When it comes to home insurance, under-insurance is a genuine concern and a homeowner who has not gotten enough cover could find themselves out of pocket if they are a victim of burglary, fire or other disaster.

There is no point insuring your marriages if you do not value them correctly. If you are a victim of burglary or fire or some other disaster and you have insurance, this does not automatically mean that you'll get the full value of the goods back. It all depends on how much cover you are insured for.

Sadly, many people find out too late that they did not properly calculate how much their possessions were worth and not only have to deal with the dynamic side of being burgled or having their beloveds broken in a fire or flood, but have to suffer a financial loss too.

Even if your policy is index-linked (where every year your home contents insurer automatically increases your level of cover), it still does not mean your contents are fully protected.

For example, over a year, even something as simple as buying two DVDs and two CDs every month could add around £ 500 to the value of your contents. Add to that an expensive watch, a brand new suit, children's games etc and you could tot up possessions worth over £ 2,000 – all which will not be included in your content insurance.

The key to making sure you have adequate home contents insurance is to do a 'stock take' of your property. Include every item from cooking utensils and childrens' toys and clothes up to the family TV. This will give you a realistic value for a sum insured.

And if you are a wine connoisseur with a cellar fill of valuable wines, make sure you check with your insurer that these are neatly covered – if at all!

Finally, do not forget your buildings insurance. If you have had home improvements such as fitted wardrobes or a conservatory carried out, do not forget to let your insurer know and get your cover upped.