Many UK homeowners fail to properly look at their insurance documents, according to a new study.
Over a third (34 per cent) of homeowners have not read their
home insurance policy and are therefore unaware of the details and extent of their cover.
More than 40 per cent also admitted that although they have read their insurance policy they are unsure as to whether it covers the amount they are attempting to insure.
Further findings showed that just over 35 per cent have made big expenditures on luxury items but do not know if these are covered by their insurance and the individual's article limit, the study by Tesco found.
And just under 20 per cent look simply to get the cheapest possible policy without taking the extent of cover into consideration.
The report recommended that homeowners check their policies in detail and take note of those possesions not covered by their article limit, as well as possible limitations to accident cover and family legal protection.
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