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Value of home contents increases
The increasing value of contents in a London home has come to light after research shows it has leapt from less than £5,000 to over £10,300 in 15 years. The shift in items deemed ‘most important’ to homeowners over this time period has accounted for this change. When thinking back to ‘must have gadgets’ 15 years ago, items such as the hostess trolley, fax machine and soda stream were named. Flash forward to modern day, and these items have been replaced with plasma TV’s, games consoles and digital cameras.
Confused.com has launched a new Content Calculator to ensure adequate insurance is obtained and under insurance is avoided.
Darren Black, head of home insurance at Confused.com said: “What fills our home changes every year with continuous new must-have gadgets. As the British public buy more and more of these items, the content value of our home increases year on year.
With one in 14% of homeowners saving specifically to buy the latest technologies for their home, the increases experienced in recent years are only set to continue. With this in mind, homeowners need to be more accurate with content forecasting and obtain insurance which reflects the values of their assets.
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