Home contents insurance being stopped to save money

Home contents insurance is being cancelled or not renewed by almost 25% of people to save money.

These worrying findings from the ABI (Association of British Insurers) highlights the struggle people are now having as a result of the recession and looking to save money wherever they can.

Without home contents insurance cover though, families are exposing themselves to the risk that they are hit with a sudden event, such as a fire or burglary, that then financially they cannot cope with.

The ABI’s Director General, Stephen Haddrill, said ‘Cutting back on insurance protection is a false economy.’

He went on ‘The insurance market remains very competitive, so shopping around can help you get a good deal, while ensuring that you are not at the mercy of the unexpected. ‘

Websites, such as Gocompare.com, Confused.com and moneysupermarket.com can help you compare home insurance quotes from a number of lenders, enabling you to quickly and easily see what’s on offer and the best price to suit your needs.