Facts and Figures About Home Insurance
It is one of the most important things to have when you move into a house but surprisingly 1 in 5 Britons do not have home insurance, that’s 20% of the country who are unprepared for the worse case scenario; they lose their home to an accident.
The fact that 1 in 5 Britons do not have home insurance is startling, especially at this time of year. The bad weather conditions normally affect people’s homes and the recent floods have served as a harsh warning for people to ensure they are fully secured against the weather and any other external factors that may occur. According to current research, the weather accounts for about ?2,700 worth of damage on British homes.
1 in 10 British properties have been damaged in the past 5 years, yet there are still people who have opted out of house insurance . A quarter of those who have home insurance are not fully aware of the exact terms of their policy, whilst a further 14% admit to not having contents cover, despite having possessions worth between ?10,000 and ?20,000. The fact that premiums have risen by 1.4% to an average of ?218.60, may be a reason why people are opting out, but the risks are surely too high to take that risk.
Finding cheap home insurance takes time and patience but it is out there to find. Despite the recent increases, insurers are still offering competitive prices and when you consider what could happen if the unthinkable happened and you had no insurance; it surely pales in significance. Paying a bit extra to have piece of mind is surely worth it. Also, before buying your policy, make sure you that you will be covered for all eventualities.
Shopping around online allows you to compare different insurers and find the best available deal for you.
About the Author
Karl Bantleman is a UK based author with extensive experience within the financial sector.
