British singletons have been warned to ensure they have proper home insurance cover.
With a third of Britons living alone with home contents averaging the value of £19,284, home insurance provider MORE TH>N has warned about an "insurance time-bomb".
The home insurance provider's home contents index has indicated that by 2021, those living alone without home insurance would account for uninsured home contents to the value of £48.2 billion.
Despite owning more high value items like expensive clothing or high tech electronic gadgets than ever before, single Britons do not take out adequate home insurance, MORE TH>N's David Pitt has said.
The company's head of insurance commented: "People are marrying later and with divorce rates on the increase, the problem of single people without adequate home insurance could snowball."
Mr Pitt also said that many people do not realise how valuable their possessions are.
"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," he said.
The South East is set to see the highest increase in single person households with a projected growth of 41 per cent between 2001 and 2021.
Singletons warned about home insurance
Financial Services > Home lnsurance > Home Insurance News
Singletons warned about home insurance
Fri, 01 Jul 2005
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