|
Britons underinsuring home contents
29 November 2008 11:35
Britain's property renters and owners are failing to adequately insure their possessions, new research has indicated.
According to a study conducted by Axa, the country has a home contents insurance deficit of over £255 billion.
The survey revealed that £29,000 is the average amount that a home's contents are insured for.
This is £9,000 less than the average value placed on home contents by Brits, meaning that many renters and homeowners may not be sufficiently covered should their homes be struck by disaster.
Axa has warned that while the country may be in the grips of an impending recession, it is not wise to scrimp on insurance.
This is for two main reasons, the first being that renters and property owners could find themselves without enough money to cover lost, stolen or damaged possessions.
Secondly, a policy which does not completely cover a property's contents could be invalid.
|
