Four million households do not have adequate home contents insurance

Mon, 23 Mar 2009

Almost four million households are not protected by home contents insurance, according to research by uSwitch.com,

The study found that around 20 per cent of UK households don’t have adequate home contents insurance and almost half of these say that the credit crunch is responsible. Also, over 30 per cent of people have either never thought of taking out a home contents policy or don’t believe the risk matches the expense.

There are statistics which prove that in the past, domestic burglaries rise during a recession and recent Home Office crime statistics support this showing a four per cent rise the number of such burglaries.

Insurance expert at uSwitch.com, Mark Monteiro, said: "We are fast becoming a nation of contents cover scrappers, as renters and homeowners try to cut back and save money during the current recession. Consumers are running the gauntlet by putting themselves increasingly at risk simply to make a short term saving."
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