Direct Line Home Insurance: Cover your collectables

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Direct Line Home Insurance: Cover your collectables

Direct Line Home Insurance has urged collectors to make sure they take out a policy to cover their prized possessions in the event of an accident.

New research from the provider has revealed that people aged over 50 in the UK have spent £2.5 billion on 'alternative assets' in the past five years.

"The most popular investment is out-of-circulation money, but royal memorabilia, old advertising merchandise, pop memorabilia, toys and antique glass and ceramics also feature highly among the purchases," said Andrew Lowe, spokesperson at Direct Line.

"We are witnessing an increasing trend towards putting money into alternative investments such as collectibles and antiques.

"It is vital that people keep home contents insurance up to date or they run the risk of seeing their assets vanish should disaster strike."

Last week, Fool.co.uk revealed that two out of seven people in the UK plan to release equity from their home to help fund their retirement.

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