Home insurance customers 'should review their policy'

NFU Mutual has told home insurance customers to review their products.

Home insurance customers have been urged to compare savings on the best possible package for them as the price of household valuables rises.

According to NFU Mutual, effective contents and buildings insurance cover is vital for people who possess items such as gold jewellery, as these could be massively underinsured as homeowners do not realise their true value.

The financier went on to state that customers may be surprised to learn that the average home in Britain contains gold worth more than £1,100, while many are also unsure about how much family heirlooms and engagement rings can cost.

Paul Richardson, home insurance specialist at NFU Mutual, said that people may find themselves "devastated" to learn that their cover would only "pay out a fraction of the cost" of replacement goods should the contents of some jewellery boxes be stolen.

Meanwhile, Marks & Spencer recently warned those heading away on holiday this summer not to endanger their home insurance policies by making the mistake of leaving their house completely unattended.

By Joe Letts