Britons face £255bn deficit in home contents insurance

The report found the average home's contents is insured for under £29,000, more than £9,000 less than the average value placed by consumers on their home contents. Under-insuring could leave Britain's 24.9 million homeowners and tenants struggling to replace their belongings in the event of a disaster and could invalidate their policies, warned Axa. "It may seem like a good idea to many, particularly in today's climate to pick the cheapest option when it comes to home insurance, but £20,000 or even £30,000 is unlikely to cover all the contents in your home," says Nick Kidd, Axa's head o...