LV= reminds consumers to include wardrobe in home insurance

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LV= reminds consumers to include wardrobe in home insurance

LV= has told customers that they must remember to include the contents of their wardrobe in their home insurance policy.

Spokesperson for the organisation's home insurance department Emma Holyer has said that people will normally only think of their expensive jewellery and electronics when they are getting insured.

However, research by LV= indicated that women estimate the contents of their wardrobe to be worth an average of £1,840, while men guessed theirs as costing £1,470.

Ms Hoyler claimed that 70 per cent of policy holders are underinsuring themselves by not purchasing cover for these possessions and they could end up losing out if an accident occurs.

She explained: "It's a relatively small percentage of claims where we see an entire wardrobe's contents destroyed, but if you are underinsured you could find that your insurer will reduce the amount they pay out."

Recent research by Hiscox showed that 30 per cent of the population do not know if the contents of their closets are covered.

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