Insurance ? how much are your household contents worth
Household content insurance is something that most people take out after a very quick 'guestimation' of the value of their entire possessions, generally erring on the lower side in an effort to reduce premiums. According to a study by the Centre for Economic and Business Research, which is cited by Motley Fool, the typical household's contents are worth around ?44,500, but most people only have an insured sum of ?35,000. This is a difference of ?9,500 and represents a 21% under-valuation, and is therefore classified as being under-insured.
At first this does not seem to be much of a problem: unless everything you owned were to be lost in one go, leaving you out of pocket, it would be possible to still claim for up to ?35,000 if something less dramatic happened. On the face of it, this seems reasonable, but this is not how most insurers work. In order to prevent people underinsuring and then claiming for any items up to the ?35,000 value even though they may have much more than this amount in their house, many insurers will use a technique called 'averaging' when determining the value of a claim.
Averaging means that the insurer may survey a home and make their own decision on the valuation of its contents.
If, as in the situation described above where there is a 21% under-valuation, then the insurance company is within their rights to only pay out the cost of the item, minus the 21% under-insurance. In other words: not enough to replace the missing item. This reduction in the payout can and will be applied to every item that is claimed for, even if you don't claim for the full ?35,000 covered. A new ?1,000 stereo system will therefore only be covered up to a value of ?790, should the worst happen, a potentially costly problem.
Even if the original estimates of the value of the contents of a house are accurate, this value will change over time. An expensive computer bought three years ago will be worth very little today.
The addition of a new ?2,000 42inch plasma television will at the very least increase the overall value of the contents and may be completely excluded from any existing cover, or it may even invalidate all contents insurance cover altogether unless the insurer has been notified of the change.
It is important therefore to always keep an insurer appraised of any changes in the value of items insured to prevent possible problems should any kind of claim need to be made. It is also useful, if changes are required which may lead to premium increases, to check around to see if there is a cheaper deal that is available. This can be done using one of the many financial websites which have sprung up in recent years such as Moneynet, to compare insurance prices across the market. Armed with this information, it is then possible to easily change your insurer or barter down the premium from an existing insurance provider.
Another important consideration is to check the fine print of any insurance policies to see what is and is not covered, thereby preventing future, expensive, shocks.
Often, additional insurance premiums are required to cover certain items which may not be kept in the insured house at all times, such as jewelry or a laptop computer. This may lead to cover not being provided if damage or loss occurs outside of the home.
Accidental damage cover can prove expensive if not included in a policy, and may often only be possible as an added extra. Most homeowners will generally insure the contents of a home against theft or disaster damage, however, it is more likely that the damage or loss of an expensive item will occur by accident and so accidental damage cover is a wise idea in case possessions become broken, scratched or otherwise damaged by accident.
Disclaimer:
All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986. You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts..
Heidelberg Instruments, GmbH, Installs a DWL66 Maskless Lithography System at the Centre Spatial de Liege, Belgium
Heidelberg, Germany (ContentDesk) October 22, 2005 -- Heidelberg Instruments, GmbH, Heidelberg, Germany, announced the installation of a DWL66 maskless lithography system at Centre Spatial de Liege, located in Liege, Belgium.
"Our new Heidelberg DWL66 system will be used for fabricating masks for a Laser-LIGA process operated in partnership with Technifutur, one of the major technical learning centers in our country. The aim of this collaboration is to propose and to implement new value-added microfabrication solutions into the local industries of the region. In combination with our existing microfabrication and metrology facilities, this new equipment will allow us to get in flexibility for investigating various domains of interest such as micro-fluidics, surface treatment, and diffractive and micro-optics for space and terrestrial applications, said Mr. Denis Vandormael, researcher at CSLs microfabrication department We look forward to support CSLs microfabrication department...
Plasma tv > Heidelberg Instruments, GmbH, Installs a DWL66 Maskless Lithography System at the Centre Spatial de Liege, Belgium
Welding Supplies
The leading manufacturers that are spread throughout the nation supply welding machines and other spare parts used in welding through their shops and retails stores. WeilerDirect.com is a supplier of Lincoln and Hobart welding machines and other accessories like welding helmets.
Hobart supplies spot welders, oxy-acetylene torches, spot welders, resistance spot welders, and welders/generators are offered. Lincoln supplies MIG welders, titanium, aluminum, stainless steel, tool steel, and cold rolled steel. Control systemizing supplies weld master machines that are useful in laser welding. With the usage of argon shield, the carbon dioxide laser welding technique is useful for achieving precision and accuracy.
J&R Welding Supply Corporation is the supplier for Hobart, Smith &Victor, Thermal Dynamics welding machines, and other accessories.
They supply industrial gas and hydro testing equipment like victor medial kits, helium regulators, hoses, strikers,...
Welding Supplies
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Controversy Averted in Latest Da Vinci Release
Los Angeles, CA (ContentDesk via ContentDesk Direct) May 22, 2006 -- While the DaVinci Code movie continues to create a stir at the box office, a new Da Vinci DVD release aims to create excitement on those popular new high definition flat panel TVs.The "Plasma TV Art - Da Vinci DVD", produced by Art Image L.A and released by Plasma Window (www.plasmawindow.com), is designed to turn plasma and LCD flat panel displays into virtual works of art.The DVD contains 30 of Leonardo Da Vinci's most famous masterpieces including the Mona Lisa, the Last Supper and Vitruvian Man, each slowly alternating on the TV screen."The Plasma TV Art - Da Vinci DVD is basically a design item that allows you to put a virtual art gallery in your living room," said Jennifer Long, president of Art Image L.A. and executive producer of the DVD. "Many people mount flat screen TVs on the wall like a picture frame,...
Controversy Averted in Latest Da Vinci Release
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The Wholesale Plasma Television Guide
You've finally made the decision to purchase that wholesale plasma television that you have been dreaming of, but you don't want to spend a lot of money. What do you do? Here's a simple, straightforward guide to buying your plasma television at wholesale prices. There are many advantages to owning a wholesale plasma television. They have great resolution and incredible colour definition. You can finally enjoy that big game or your favourite film on a larger than life screen.
But buying one costs a fortune, right. It doesn't have to, if you know the right places- and when- to shop. The first thing that you should do is to check out your local chain television stores, like Best Buys or Circuit City, and see what their prices are. If they are too high for your budget, you might want to sign up to receive their sales fliers, so that you know when they will be on sale. If you don't want to wait for a sale price to purchase your plasma television, you could check to see if there are...
The Wholesale Plasma Television Guide
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A Company Worth Watching
(ContentDesk) January 28 2004--Kellmo Enterprises, Inc., an ever-growing company, located in Flowery Branch, Georgia announces the Grand Opening of Kellmo's, an on-line department store where the general public can save up to 95% on its products.
Kellmo's was created under the "Sam Walton theory of low pricing" so that the general public can afford the quality products they want.
Purchasing items in bulk produces even greater savings and, if you are searching for a particular item and Kellmo's doesn't have it, they will attempt to locate the item for you.
Further, Kellmo's guarantees your satisfaction and makes your shopping experience with them so worth your time, you'll want to return to them for all your needs.
Even though Kellmo's does lack some departments within its store, they are currently searching for the best products to fill those departments.
The next department they fill will be a fine gifts department followed by jewelry and...
A Company Worth Watching
Plasma tv > A Company Worth Watching
Invirion, Inc. Forms Strategic Partnership with Worldwide AIDS Coalition (WWAC) In Fight Against HIV/AIDS in Africa
The Worldwide AIDS Coalition (www.fightaidsnow.org) announced a strategic partnership with Invirion Inc. to assure availability of high performance, low cost diagnostics to monitor the treatment of people living with HIV/AIDS in Africa and the Caribbean.Co-founder and Executive Director for the WWAC, Dennis M Israelski, M.D. mentions, "We are extremely pleased that a company like Invirion, shares our passion for ending the pandemic of communicable diseases globally. "????WWAC supports the efforts of effective and innovative organizations in the fight against global public health disparity by focusing attention on the crisis of HIV/AIDS.
Their mission is to facilitate consilience in global efforts to overcome obstacles and barriers to HIV/AIDS prevention, care and treatment in resource poor communities.
Dr. Israelski states, "The pandemic of HIV/AIDS disproportionately affects places that can least...
Invirion, Inc. Forms Strategic Partnership with Worldwide AIDS Coalition (WWAC) In Fight Against HIV/AIDS in Africa
Plasma tv > Invirion, Inc. Forms Strategic Partnership with Worldwide AIDS Coalition (WWAC) In Fight Against HIV/AIDS in Africa