Study finds home possessions under-insured by almost £10,000

The survey, commissioned by Axa, found that home contents have been under valued by over £255bn across the board, which will render many unable to replace their belongings and puts them at risk of invalidating their insurance policies.

The average home's contents have been insured for roughly £29,000 whereas the average value consumers placed on their home contents stood at £38,000, leaving a £9,000 discrepancy.

With the current economic climate adding financial strain, many said they under-repo