The new product, Norton Home & Lifestyle Cover, has been built to offer greater flexibility for homeowners whose lifestyles, belongings and values have changed over time.
Valuable hobbies, collections and specialist items are now common in UK homes, yet they are not always properly accounted for in traditional home insurance policies.
Many households also own high-value items including watches, jewellery, photography equipment, cycling gear, vinyl collections and memorabilia.
Industry research suggests many homes now contain £75,000 or more in contents after everyday belongings, hobbies, collections and specialist items are taken into account.
As a result, a significant number of homeowners could be underinsured if they needed to make a claim.
Norton Home & Lifestyle Cover has been designed to address this gap by allowing homeowners to insure individual valuables or entire collections, as well as specialist hobbies and equipment, within one flexible policy.
The product can also accommodate second or holiday homes that are not commercially let, helping homeowners ensure their cover reflects how they actually live today.
Mark Wilkinson, managing director at Norton Insurance Brokers, said: “Many people don’t think of themselves as having an unusual lifestyle, but the reality is that homes today often contain far more value than they did 10 years ago.
“Watches, collections, hobby equipment and everyday possessions have all increased in cost, yet insurance policies aren’t always reviewed to reflect that.
“We designed Norton Home & Lifestyle Cover to give homeowners the flexibility to insure what really matters to them and the opportunity to check whether their cover still reflects today’s values.”
Norton Insurance Brokers is encouraging homeowners to review their existing home insurance policies to ensure sums insured accurately reflect the true replacement cost of their belongings and any valuable items kept at home.
