High-tech homes risk being under-insured

24th July 2013

Insurance specialists Rossborough Group is warning householders that not updating valuations for buildings and contents insurance after renovations, improvements or the purchase of expensive equipment will lead to being under-insured.

Speaking to Katrina Bray of public relations consultants LIQUID, Guernsey Director Tony de Sousa says this could affect the amount received in the event of a claim as insurers will apply an average.

High spec interiors are increasingly popular including under-floor heating, granite counter tops and marble flooring, “but they are significantly more expensive to repair or replace,” says Mr de Sousa.

Insuring contents as new, not just for the amount paid for them, is also important and Mr de Sousa recommends householders carry out a room-by-room calculation of how much it would cost to replace everything. He says most people would be genuinely surprised by the value of what they have in their homes when even the smallest and commonplace items are included.