Brits underestimating home contents insurance, says Legal & General
Legal & General recently surveyed over 4,000 people as part of the Changing Face of British Homes research which revealed that 15% of Brits have no idea how much it would cost to replace the contents of their home.
Although Legal & General has calculated that the average value of the contents of a house is estimated to be over £40,000, the survey highlighted that the majority of the British public, 59% estimate that the cost to replace the contents of their whole home would be below £40,000.
The survey also found that over a quarter, 27% valued their contents at less than £20,000, so possibly 100% less than their cover should be. This would suggest that Brits could be seriously undervaluing the contents
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