The real cost of electrical items is now much lower than it was 20 years ago, according to insurer, esure.com.

The drop has been driven largely by technological advancements and the emergence of supermarket discounts and online shopping. Price tags for ‘basic’ items that have remained the same in terms of function and styling – such as the standard upright vacuum cleaner – have become up to five times cheaper to buy compared to two decades ago.

This change means some consumers may be overinsured. Nikki Sellers, head of home insurance at esure.com, said: “With prices of electricals continuing to tumble, increased affordability has led to a boost in the number of appliances and gadgets in UK homes over the last 20 years. With such a growing list of contents, it’s important to take stock and make sure you know what you own and the current market value.

“It is not the price that you paid that counts, but the price you would have to pay to buy the equivalent item today. Homeowners should regularly review the value of their contents to make sure they have adequate insurance cover.”