Check your in­sur­ance cover

Weekend Argus (Saturday Edition) - - PERSONAL FINANCE -

The beginning of the year is a good time to check that all your in­sur­ance cover is still ad­e­quate. In­sur­ance cover for your home and your house­hold con­tents should be in­creased to keep pace with in­creases in build­ing costs and the cost of house­hold goods.

The value of your ve­hi­cle, how­ever, is de­pre­ci­at­ing all the time, and you may there­fore want to re­duce the amount for which it is in­sured, as your in­surer will, in the event of a claim for the to­tal loss of the ve­hi­cle, prob­a­bly pay out only its cur­rent mar­ket value.

If you were lucky enough this fes­tive sea­son to re­ceive some ex­pen­sive presents or you treated your­self to some­thing with your an­nual bonus, re­mem­ber to con­sider in­sur­ing the likes of cam­eras, bi­cy­cles and jew­ellery un­der the all­risks sec­tion of your pol­icy.

File the in­voices in a safe place so that you can pro­duce them to prove the value of your goods should you need to lodge a claim.

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