Consumers reassured over home insurance protections

Home insurance customers will still be protected if their provider goes bust, one expert has stated.

Speaking to the Times, Nick Dear, spokesperson for More Than, explained the amount of cover people have depends on the kind of insurance .

Claims which are made on insurance policies which are required by law will be fully covered, he remarked.

Mr Dear said: Claims under non-compulsory insurance, such as home contents, have the first £2,000 covered, plus 90 per cent of the remainder.

People might also qualify for a partial refund of their home insurance premiums, Mr Dear added.

Yesterday, Confused.com claimed home insurance customers could be wasting a total of £1.4 billion by not shopping around, this equates to an average of £196 a year per person.

According to David Black, head of home insurance for the price comparison website, people should not just accept the renewal quote from their current provider.