Quantum can visit you in your residence to talk through the assets you own and the level of cover you require. In our experience, sometimes it is uncovered that people buying home insurance do not have sufficient cover to replace their valuable contents or possessions in the event of a claim. We strongly recommend that our clients review their needs and update their contents insurance if they believe that their cover is insufficient to replace their contents. In the event of a small loss this is unlikely to create a significant problem, however, in the event of a serious loss under-insurance can occur with serious implications.
Some UK insurance policies can contain an under-insurance clause that can proportionately reduce the claim if the amount of cover purchased is insufficient. This could result in someone having to contribute a significant amount towards the cost of replacing their valuables, in some cases. Spending a little time when you first arrange your cover to assess your needs would be a wise investment and reviewing the numbers every couple of years is similarly prudent. A little time spent regularly reviewing your insurance needs and ensuring you have sufficient cover, can help prevent financial loss at the time of any claim.