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Insurance Directory >> Home Insurance News UK Home Insurance NewsSaturday, July 02, 2005
A third of single person households underinsured
Britain?s growing number of single households could be sitting on an insurance time-bomb if they do not take out home insurance to cover the mounting value of their home contents ? currently £19,284 ? warns leading home insurer MORE TH>N.
A third of Britons living alone don't have home contents insurance, leaving their valuables uninsured. If this continues, the value of uninsured contents will jump to £48.2 billion by 2021, according to the MORE TH>N Home Contents Index. Many people living on their own could well be filling their home with valuable belongings such as high tech gadgets, expensive clothing, DVD players, CD collections and the latest entertainment systems, but may not realise just how much their belongings are worth. David Pitt, Head of Insurance at MORE TH>N, said, ?The MORE TH>N Home Contents Index shows that nearly a third of Britons are now living alone, but despite owning more high value items than ever before, this group are not covering their contents against potential loss. People are marrying later and with divorce rates on the increase, the problem of single people without adequate insurance could snowball. It is estimated that the average disposable income will rise to £30,000 by 2008, which could drive the value of possessions up even further.? posted by UK Insurance Index @ 12:48 PM
 
News items are intended for information only and should not be relied upon when making insurance decisions. Due to their nature some of the information in these news stories may no longer be current. |
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