20 percent of Britons avoid home insurance, says experts

December 10th, 2019
20 percent of Britons avoid home insurance, says experts

Home insurance is an important part of one’s investment for the property and is considered as a safety measure against all odds including natural calamities. However, a huge mass of Britons do not think so and simply avoid investing in home insurance just to skip the additional cost of buying a home insurance policy. There are also many who have tried their hand at this and burnt their fingers.

As per statistics, one in ten home insurance policy holders have made claims which were rejected due to an insufficient policy. The UK insurance providers and experts suggest that such failures are due to the fact that most of them could not find a policy that matches the requirements of their property. Prominent UK home insurance providers coverbuilder.co.uk performed research on 2,256 participants that were 18 and above to check the status of their home insurance in UK.

They discovered that the value of homes of people participated in their survey ranged from £150,000 to £850,000. When all of them were asked about having a comprehensive home insurance, 79% of them agreed to have a policy. Out of these participants, 67% said that their current policy was a result of their mortgage lender who had financial gains out of it.

When people without a UK home insurance policy were asked the reason behind their decision, most of them said that they wanted to avoid the additional financial outlay. In addition, 37% of them confessed that they forgot to renew home insurance while 9% said they were unable to find the correct home insurance cover for their property.
This means that a huge section of people do not have correct information about home insurance cover.

Well, this happens when you don’t compare home insurance in UK. If you have blind faith on your insurer then there are chances of you getting duped by an insufficient insurance cover. Therefore, it is always advisable to go through the small print of the policy and figure out the best home insurance policy in UK.

If you feel the financial burden then look out for cheaper home insurance cover as they are readily available, with many fitting the requirements of your property. If you want to buy home insurance cover and price comparison is not your cup of tea then you can easily rely on the services of FreePriceCompare.

Our insurance price comparison tool helps you figure out the cheapest home insurance quotes online. You can actually choose the cheapest deals on home insurance cover and save some good money. Moreover, we assist you to switch home insurance providers if you are not happy with your current insurer.
Our services are absolutely free and you can easily rely on our team of insurance comparison experts.

To get in touch with our insurance price comparison experts, just click on https://freepricecompare.com/insurance/home-insurance/ or give us a call on 02034757476.

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