Get it covered

It’s a shocking fact that a quarter of Brits do not have adequate home insurance. According to a survey by Santander, 14.5 million people in the UK have at some point in their lives lost a treasured possession. Many items have a strong emotional value – photographs topped the list with 24% for the most precious personal possession, followed by music collections (8%) and wedding/engagement rings (8%).

Colin Greenhill, director for Santander Insurance, said: ‘Until you actually lose something of immense personal value you've no idea how you'll feel, but our research shows that a good many people do put their most valued item at risk. A fifth of people say they don't know if their insurance will cover their most treasured belongings.’

He added: ‘Buying your home insurance based solely on price may seem like a good idea, but it may also leave you with poor cover and at risk of being underinsured, paying more in the long run.’

In the long run it always pays to be careful – particularly with those things that are priceless, or are a hassle to replace.

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