Homeowners are 'taking risks by not opting for home insurance'
Published On 23 January 2008
A new study has revealed that many people in the UK do not have buildings insurance and that even more are unaware of the details of their policy if they do.Data released by Nationwide indicated that 20 per cent of homeowners do not have any buildings insurance and would not be covered in the event of damage caused by floods, storms, or worse, a house fire.
What's more, 25 per cent of those with insurance did not know what was covered under the policy.
Another 14 per cent of those questioned said that they also did not have any contents insurance cover in place.
"It is surprising 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," commented Nationwide's insurance director, Robin Bailey.
"You never know what is around the corner and for that reason it is vital that people are prepared by having adequate insurance."
Recently, a spokesperson from the British Insurance Broker's Association (Biba) said that it was important that people sought the advice of a professional broker when considering insurance.
He explained: "Don't just go and go and surf the internet and buy the cheapest thing you can find. Speak to an insurance broker who can give you the right advice on the right policy for you."
