Millions without home insurance, study shows

Thu, 07 Sep 2006

Millions of UK residents do not have any home insurance, according to new research.

Some 25 per cent of Britons are without home insurance, which could put them at significant risk, the Nationwide survey shows.

The total value of the contents in these houses is between £10,000 and £40,000, meaning that many UK residents could be severely out of pocket should disaster strike.

Furthermore, of those who do have a home insurance policy, 30 per cent are not aware of what is covered under the terms.

Nationwide's insurance director, 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 insurance."

Churchill recently warned that many students heading back to university in September are not security-conscious enough, which could lead to losses if not covered by home insurance.


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