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It’s not always about the money

8th May 2015 Print

Britons are at risk of losing or damaging their most cherished possessions according to new research released. While financially valuable items can be replaced using a suitable contents insurance policy, many sentimentally valuable items cannot be covered, and those who don't take steps to protect them risk damage by fire, theft or water damage according to Saga Home Insurance.

The study shows that just 38% of us have adequately protected our sentimental items from water damage, and 47% from fire damage. In the event of a fire, sentimental possessions were high on the list of items that people would rescue, with one in 20 over 55s saying they would rescue these above everything else. Top of this list was financial and legal documents, cited by 27% of people, and rising to 40% of the over 55s. The over 55s are also the age group more likely to take a wallet or purse with them, suggesting a practical approach to the things they see as important.

The news comes as Saga Home Insurance launches a campaign celebrating the nation's most treasured possessions, having asked people to send in pictures of their most treasured possession, along with an explanation. Items include everything from photographs, to lucky gnomes, and even a humble tin of baked beans used in a marriage proposal.

Helping people to protect their sentimental possessions, Saga Home Insurance has released a free guide on protecting and storing these items. The guide also offers practical insight into getting the right insurance policy for you, for the things you can insure.

Meanwhile, the survey also revealed that 15% of Britons have discovered that they owned something of unexpected value, suggesting that sentimental items can also turn out to have high monetary value. People are urged to review their heirlooms and antique purchases and consider having them valued, as well as storing them securely.

Sue Green , Head of Home Insurance, Saga says: "Whilst insurance protects peoples’ financially valuable items in the event of damage, but we are keen to help our customers protect their sentimental items. Even though many of these cannot be insured in an official sense, there are steps people can take to look after them so they can be passed on as heirlooms. Our campaign shows just how varied these items are, and the backstories provide a fascinating insight to what we hold dearest."