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Homeowners ‘do not have adequate insurance’

January 25, 2008 by admin  
Filed under News, News-Insurance

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Up to one in five of Brits have no home insurance while a quarter do not know what their policy covers, according to a recent poll.

Findings from the Nationwide showed that many respondents are at the risk of being underinsured with 14 per cent of people admit to not have any .

This is despite the average homeowner having home contents worth between £14,000 and £21,000.

Nationwide’s insurance director, Robin Bailey, said: “It is surprising that so many people are prepared to take such a gamble on their homes and personal belongings when you consider how much time and money we all invest in our homes.

He added that as consumers never know “what is round the corner”, they would benefit from being prepared by having adequate insurance.

However, the survey also showed that those aged 45 and over are more likely to have both buildings and contents insurance and claim to possess full knowledge of what is covered.

Meanwhile increasing numbers of homes are at risk from dangerous weather, Abbey Home Insurance has stated.

Tags: contents insurance, home contents, Windloss Inspection, covered.Meanwhile increasing numbers, Insurance, quarter, Financial services, Brits

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