British Insurance Brokers Association says home and car insurance are vital

Mon, 15 Jun 2009

While many Brits are getting rid of some of their less-relevant insurance policies during the recession, the advice from the British Insurance Brokers Association (BIBA) is to ensure that this does not include home and motor cover .

BIBA’s technical and corporate affairs executive, Graeme Trudgill, said that homeowners must look for other ways in which to reduce their outgoings rather cancel important policies. He explained: "It is vitally important for such a small cost that of all the insurance policies that you do choose, the household ones, buildings and contents and the motor ones are an absolute must."

Mr Trudgill added that the average cost of insuring home contents is around £12 a month and for such a small price, homeowners will have piece of mind that their possessions are covered against theft, floods and fires .

Recently, statistics released by the Association of British Insurers (ABI) revealed that 22 per cent of Brits have not renewed their home insurance in the last year.
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