Wardrobes – What’s Yours Worth?
Insurers have kicked up a fuss in the media of late in an attempt to raise awareness of the value of our wardrobes. It seems when it comes to insuring our home, we’re quick to cover electronic items and expensive gadgets, but forget to think about what’s in our wardrobes.
Don’t Forget Your Wardrobes
When it comes to insurance policies, our wardrobes should be included. But as our household incomes are stretched to the max, it may be tempting to cut back on insuring wardrobes - financial advisors are warning against such steps. Underinsuring household contents, including what’s in your wardrobes, can be a costly mistake. It’s recommended you reassess what’s in your wardrobes every six months as we tend to accumulate goods faster than we think. And if you’ve never evaluated the clothes, shoes and jewellery stuffed in your wardrobe, you may be in for a shock.
Replacing Wardrobes: A Small Fortune
If you are assessing how much household insurance you need, the expert advice is that you draw up a list of rooms in your home and itemise what’s in each room. Consider of course the furniture (your wardrobes, beds, chest of drawers) but also consider what’s inside your wardrobes, what’s on the bed and in the drawers. Curtains, carpets, bedding and ornaments shouldn’t be overlooked. Even your books and films can all add up. But the thing most people forget when taking out household insurance is what’s in their wardrobes: think about how much it would cost to replace your entire wardrobe – if you needed to replace all your work clothes, underwear, party gear, weekend wear, shoes…you could be looking at a small fortune.
What’s at the Back of your Wardrobe?
If you have had a shopping spree, or say you’ve just got married and have an influx of new valuables in your home, it’s important to tell your insurer. The same should be said of Christmas – the run up to Christmas and the period after Christmas can be a busy time for burglars. It’s important that you check your policy covers the cost of stolen Christmas gifts – even if it is a jumper from your Gran that will end up at the back of your wardrobe!
Underinsured Wardrobes
According to one report, the average shopper spends a thousand pounds on clothes every year, with the fashion conscious spending up to £400 a month. It’s hard to keep track of the value of your clothing and accessories when it accumulates over time. Many people it seems are underinsured when it comes to their wardrobes. It isn’t unusual for example for women to guess their wardrobes’ worth at £3,000 when the figure is closer to tens of thousands!
Speak to Furniture Today about Stylish Wardrobes!
With competitive online prices, and a vast choice of beautiful wardrobes to match all tastes and styles, browse our online store. Or you can call 0800 840 9575 to speak to a member of the friendly Furniture Today team!
Back to our furniture information & articles page »
