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Many consumers aren't updating home policies with valuables

Almost one-third said they weren't aware they had to update their home insurance policy after getting a high-value item.

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The Selective Insurance survey found that more than half of policyholders had made a big purchase or received a high-value gift this past holiday season. (Credit: Matt Benoit/Shutterstock.com) The Selective Insurance survey found that more than half of policyholders had made a big purchase or received a high-value gift this past holiday season. (Credit: Matt Benoit/Shutterstock.com)

Slightly more than 40% of U.S. home insurance policyholders failed to update their coverage after buying or receiving a value item, defined as being worth more than $1,000, this past holiday season, according to Selective Insurance Group, Inc.

Selective reported that more than half of policyholders surveyed had purchased an item valued in excess of $1,000 during this past holiday season.

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Steve Hallo

Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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