25% of Brits without home contents insurance?
Date: 21/02/2008 10:24:49
While much of the population with mortgages invests in buildings cover for their properties, about a quarter fail to do so for their home contents, an expert has suggested.
According to Alison Palmer, household underwriting consultant for Norwich Union, many mortgage providers arrange building cover for their customers, but contents can be overlooked.
She stated that many people take the attitude that either their contents will not be damaged or stolen, or that they have nothing worth insuring.
"People lose everything and it's a horrible thing," she warned, drawing on events last summer in which many Britons found their properties affected by severe flooding.
According to the Environment Agency, last year, the UK experienced its wettest May to July since 1766, with approximately 49,000 homes and almost 7,000 businesses flooded. Particularly affected were the areas surrounding key rivers such as the Thames, Severn and Don.