Reviewing your insurance policy is an important exercise which you should undertake to make sure you have the right protection in place. Why not make the most of this season by arranging a comprehensive review of your home insurance policy this Spring?
Do you have the correct cover for your precious belongings?
If you have purchased or received valuable items such as jewellery since you last renewed your policy, you should ensure you have these items appraised and added to your policy.
It is also essential to have regular insurance valuations, making sure that any high value item of jewellery, art or other significant collections are insured for their current market value to ensure they are adequately insured. This is especially important as particular artists’ works, brands of jewellery and certain makes and models of watches are rapidly increasing.
How much would it cost to rebuild your home?
Several factors may lead to the rebuild cost of your home being underestimated. During the last year there has been a sharp rise in homeowner improvements. If you have made any significant alterations to your home such as adding additional rooms, expanding a kitchen or bathroom you should check your policy to ensure you have the right sums insured in place to reflect this.
In addition, there have been significant fluctuations in the costs of building materials and professional fees can result in higher rebuild costs, making it very easy for your home to become underinsured.
If you need any further advice or guidance our PIB Insurance Brokers private client team can offer you a complete review of your current arrangement and source a specialist bespoke policy to ensure you have the correct level of cover required for both your home and all your personal possessions.
To find out more, please contact Zoe Watkins - Private Client Manager