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Latest News
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People 'should not be complacent about home contents insurance'
Homeowners should avoid relying solely on buildings insurance for cover of their home, it has been advised.
Many mortgage providers ensure that people have buildings insurance, according to Norwich Union; however, people should note that this does not always apply with contents insurance.
Alison Palmer, household underwriting consultant for Norwich Union, commented: "A lot of people just take the view that 'well, it'll never happen to me. I'll be alright, I haven't got anything worth insuring anyway'.
"And as you've probably seen from the events that happened last summer it can happen easily."
It is estimated that 25 per cent of UK homeowners do not have contents insurance, Ms Palmer added.
Property damage or loss of possessions resulted in a payout of £9 million to householders in 2006, according to the Association of British Insurers.
See how much you could borrow with a home loan from Lombard Direct.
© Adfero Ltd
21/02/2008 13:09:15
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