Many people in the UK may have inadequate home insurance due to underestimating the value of some of their belongings.
That is the warning of Halifax home insurance, which has found that 67 per cent of homeowners are sitting on collections of art, memorabila or antiques that are potentially valuable.
Despite this, one in ten do not have home insurance to cover these items and three out of four have never sought an expert valuation.
David Rochester, head of underwriting for Halifax home insurance, said that while the emotional value of such items is less easily quantifiable, insuring them against damage or theft should at least take care of their monetary worth.
"We'd recommend anyone who has a potentially valuable collection to get it valued by an expert every two years and ensure they obtain a dated copy of the valuation certificate," he said.
Other research by Halifax recently discovered that one in seven homeowners feel more at risk of burglary now than ever before.
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