Over one-third of Britons without home insurance

by Gill Montia

Story link: Over one-third of Britons without home insurance

It would seem that many Britons still regard home insurance as a luxury rather than a necessity.

Recent research from financial website, Fairinvestment.co.uk, has revealed that 38% of households do not have cover for building or contents.

This alarming state of affairs exists despite serious flooding in the UK last summer and this.

Ten per cent of UK homes are thought to be at risk of flooding, putting land and assets worth £214 billion at risk in England and Wales, according to Homecheck, the flood information service from Landmark.

The research, which was conducted by OnePoll and involved 2,511 respondents across the country, also showed that men are less likely to take out a home policy than women.

Only 57% of male respondents had the insurance, compared with 64% of females.

Fairinvestment spokesperson, Rachael Stiles, comments that in light of current flooding risks the results are surprising, adding that with so many homes at risk due to poor flood defences, home insurance really is a necessity.