Property 'at risk' for those without adequate home insurance
Added: (Wed Sep 06 2006)
Pressbox (Press Release) -
Some people are skimping on home insurance, according to a survey carried out by Nationwide.
Over a third of those surveyed do not have buildings insurance, which may mean they are at risk from the unknown, and unprotected in the event of a fire or extreme weather such as storms or flooding.
A further 25 per cent have no home insurance for their contents, so following a break-in or accident within the home, damaged or stolen items may not be replaced, resulting in costly personal expense to replace possessions.
Insurance director for Nationwide, Robin Bailey, said, "It is astounding 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. You never know what is around the corner and for that reason it is vital that people are prepared by having adequate home insurance."
It could be worth checking a home insurance policy to work out exactly what is protected, as the research also showed that almost 30 per cent of those with policies did not know what was covered.
With winter approaching, it may be advisable to register with the Environment Agency to receive updated flood and weather warnings if living in a high risk or coastal area.