Thousands of property owners 'have inadequate home insurance'

Saturday, 10 July 2010

Thousands of property owners do not have adequate home insurance, a new survey has revealed.

Some six per cent of people admit that they do not have buildings or contents home insurance for their property, according to moneysupermarket.com.

Homeowners under 34 years old are even less likely to have cover, with 12 per cent admitting to having no home insurance.

Of those with inadequate home insurance, half only have buildings cover, while one-third only have their contents insured.

Julie Owens, head of home insurance at moneysupermarket.com, said: "Homeowners seem to be taking the either/or approach by foregoing some part of their home insurance, but having both buildings and contents cover is
important and not as costly as many may think."

If you do not regularly shop around for home insurance quotes then your costs may rise every year even though you have not claimed for anything.

Swiftcover home insurance is very easy to buy and manage because you can choose exactly what level of cover you want, that is all you pay for, and your home insurance policy will only contain details of what you've picked.

Posted by Rebecca Mellor

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