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No home insurance could devastate lives, experts say

Tue, 06 Jun 2006

Britons with no home insurance could spend years rebuilding their lives if disaster were to strike, according to experts.

Every UK household suffers from six disasters over the course of a lifetime, new research has indicated.

The study has been conducted by Churchill , providers of home insurance, travel insurance, car insurance and pet insurance , and states that the most frequent claim is for accidental damage.

Half of all UK homes will be broken into, while the cost of replacing stolen goods and repairing damage caused by thieves will run into tens of thousands of pounds.

Home insurance could also protect individuals for the event of having goods stolen outside of the house, which happens once in every lifetime, on average.

More extreme events, such as fire, flood and subsidence could result in a home insurance claim for the full value of the property and all of its contents.

Martin Scott, head of home insurance at Churchill, said: "While the smaller household accidents are inconveniences which affect us all, a number of householders will suffer a major disaster and the effects could be devastating.

"Householders without the reassurance of home insurance can spend years rebuilding their lives should such disasters occur."

The Environment Agency has recently appealed to be a greater part of the decision making process regarding new homes, as it is estimated that thousands of houses are still being built in the floodplain.

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