Home insurance is an “important consideration”
April 19, 2008 by admin
Filed under News, News-Insurance
Home insurance may seem expensive for low-income households, however it should be an “important consideration,” according to insurance comparison website Confused.com.
Weekly payment schemes such as the one recently launched by Zurich Municipal can make home insurance more accessible to those on a low income, Debra Williams, managing director at the website commented.
Zurich Municipal launched a new scheme to help increase access to home contents insurance for social housing residents by helping them to insure based on what they need rather than what they can afford.
“We would hope the ability to spread the cost will encourage people to consider home contents insurance as a way of protecting their treasured possessions,” Ms Williams said.
The latest AA British Insurance Premium Index reveals that the widely-predicted price increases in home insurance following last year’s flooding are not being realised.
Andrew Strong of the AA said this could be explained by a rise in the number of risks not being quoted by some insurers, indicating a sensitivity to the risk of floods.
