UK Money News
4th June 2008
Online application helps calculate insurance costs
Legal & General has launched a new online tool to help customers ensure they are not underinsured on the contents of their home.
The state of the art application takes the form of 3D virtual home, which enables customers to ‘tot up' the value of their possessions, room by room.
The home insurance provider was moved to develop the device after a survey found that millions of people are underestimating how much cover they require for the contents of their home.
Some 27 per cent of those polled valued their contents at less than £20,000, when in fact the average value is £40,000.
Garry Skelton, marketing director for Legal & General's general insurance business, said: "Many of us seem to be seriously under-estimating the value of the contents of our homes.
"Obviously every home is different and so the online calculator has the flexibility for customers to enter amounts that are appropriate to them and so help to provide a more personalised valuation."
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