Home insurance is "absolutely critical" as it covers "an enormous amount of stuff", one expert says.
Graeme Trudgill, technical and corporate affairs executive of the British Insurance Brokers' Association, explained that anyone who had a mortgage would most likely have it written in to their contract that their property was protected by buildings insurance .
He also said that contents insurance was also very important.
Mr Trudgill said that the 25 per cent of people who did not have contents insurance could face a massive bill if the worst happened.
"If something happens, they have lost everything. You can't afford to just go out and by another £30,000 worth of stuff," he warned.
He urged people to call their broker and get a home insurance quote, adding that the cost was "very low" and people will be able to pay in instalments if they want to.
According to the Association of British Insurers the UK insurance industry paid out a total of £9 million to householders in 2006.
Home insurance critical
Financial Services > Home lnsurance > Home Insurance News
Home insurance critical
Mon, 11 Feb 2008
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