Are your gadgets insured or gathering dust? - Home insurance - News - Moneyfacts

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Are your gadgets insured or gathering dust?

Are your gadgets insured or gathering dust?

Category: Home insurance

Updated: 10/12/2008
First Published: 09/12/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Research from Halifax Home Insurance shows that we Brits are spending on average £120 a year on technology and gadgets that we won't use and will end up gathering dust.

However this does not put us off buying the gifts for other people. 15% of those interviewed admitted buying some sort of gadget as a gift due to not knowing what else to buy. Often it seems however that they just end up not being used, a fifth of people aged 26-30 admitted receiving gifts that they were never able to fathom out.

The bigger concern however is that of those interviewed, 73% would not think to check their home insurance/contents policy to see if these gifts are covered, which could leave them underinsured.

Head of underwriting at Halifax Home Insurance, David Rochester: "With Christmas fast approaching, many of us are making the most of the early sales. However, our research highlights that a significant amount of money is being wasted on techy gifts that are left to gather dust - money which could perhaps be better spent elsewhere.

"What is more worrying though is the number of people that wouldn't think to check that these items, which are often expensive, are covered under their current home insurance policy. This could leave them underinsured in the event of damage or loss."

So remember to check your home insurance policy this December to ensure you have enough cover.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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