Home Insurance
Families advised to check insurance
7.10.2008
Families all living under one roof have been urged to ensure they have adequate home insurance.
New research from Halifax Home Insurance has shown that one in four people would consider purchasing a larger property to house additional family members in the future.
A further 27 per cent said they would think of buying a home with their parents or in-laws as they grow older, the company noted.
While 43 per cent said they would do so to take care of their relatives, 31 per cent said they would take such steps for financial reasons.
David Rochester, head of underwriting at Halifax Home Insurance, said present economic conditions may see a shift towards "multi-generational households", which may require people to reassess their insurance needs.
"Where additional family members are living in one place, there are likely to be more valuable items around the house, so people with sum insured policies need to make sure they have enough home contents insurance in case of any damage or loss," he advised.
Last month, Martyn Foulds, senior claims manager at Halifax, recommended people with potentially valuable collections of items in their homes to have them valued regularly and to have relevant documentation to prove what they are worth in the event of a claim.
New research from Halifax Home Insurance has shown that one in four people would consider purchasing a larger property to house additional family members in the future.
A further 27 per cent said they would think of buying a home with their parents or in-laws as they grow older, the company noted.
While 43 per cent said they would do so to take care of their relatives, 31 per cent said they would take such steps for financial reasons.
David Rochester, head of underwriting at Halifax Home Insurance, said present economic conditions may see a shift towards "multi-generational households", which may require people to reassess their insurance needs.
"Where additional family members are living in one place, there are likely to be more valuable items around the house, so people with sum insured policies need to make sure they have enough home contents insurance in case of any damage or loss," he advised.
Last month, Martyn Foulds, senior claims manager at Halifax, recommended people with potentially valuable collections of items in their homes to have them valued regularly and to have relevant documentation to prove what they are worth in the event of a claim.