7 weird and wonderful items on home insurance policies
From sports memorabilia to gold bullion, Victorians have some interesting collectibles tucked away in their homes.
New RACV Home Insurance policy data reveals the weird, wonderful and valuable items that Victorian homeowners and renters treasure the most.
The data, collated from the items listed for additional coverage on policy holders’ contents insurance, shows that when it comes to valuing possessions everyone has something different that they hold dear.
RACV Head of Home Insurance Kirsty Hayes says the data provides an interesting insight into the things Victorians hold dear.
“We’re a diverse population and our home insurance policies often reflect our personal expression, interests, hobbies and tastes,” she says.
While the rise in house prices is well documented over the past 18 months, the value of our contents has too, reflecting our new ways of living brought on by the COVID-19 pandemic. As a consequence, Hayes advises Victorians to regularly review contents listed on their home insurance policy as time spent at home and the quantity and value of our contents changes.
“The replacement cost of our treasured items can increase over time, so it pays to keep an eye on their insured value to ensure it reflects current market value," Hayes says.
“For example, the value of many popular household electronics has risen since the start of the pandemic.”
“Don't forget to review your policy and add the items that you have invested in during the COVID-19 period such as gym equipment, fitness watches, home entertainment equipment, cooking equipment, home office equipment, musical instruments, and art,” Hayes concludes.
Here are eight weird, wonderful and valuable items that Victorians have listed on their home insurance policies. How does your policy compare?