Even though the inside of Brits' homes are worth less this year than in previous years, insurance is still important, says MORE TH>N.
A survey by the insurance provider revealed spending in British households only increased by 1.6 per cent between 2004 and 2005, compared to 6.7 per cent the year before and 56 per cent over the past decade.
However, MORE TH>N says Brits should still keep up-to-date on their insurance policies, even if they are not buying a lot of expensive items for their home.
The insurance provider says even though Brits are spending less, the contents of an average UK home are still worth around £45,000.
Head of insurance at MORE TH>N, David Pitt, said: "It's easy to lose track of the value of your possessions over time and it’s really important to ensure you have enough cover for your home contents should the worst happen."
MORE TH>N offers an automatic level of cover up to £60,000 for all home insurance customers.
The only places in the UK which have seen positive growth in home contents value are the north-west of England, East Midlands and Wales, according to the MORE TH>N index.To read more about Contents Insurance, click here.
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