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A weak Pound

13 Nov 2016

With a less favourable rate of exchange for the GB Pound it is becoming more and more important to correctly insure your goods for their replacement value at destination.

Earlier this year, before a number of political changes within the global economy, the GB Pound was close to US$ 1.60 and AUS $ 2.00.

For instance, if you were moving to Australia and you insured your TV for a replacement value of £ 500 and this was totally damaged, Insurers would have paid you A$ 1,000 to replace the item in Australia. Today, you would only receive A$ 800 due to the deteriorating rate of exchange. 

All Policies, be it through ourselves or other providers, require you to insure your goods at their replacement value so it is worth checking you have the correct level of cover with the correct sums insured.

If you do, however, have any questions in this regard please contact us.