Report shows that 2.4 million households possess no Home Insurance
A report released by the Best Advice website declares that around 2.4 million households now possess no home insurance with 33% of private renters having no cover at all. Findings from AA Insurance Consumer Index has shared the news that housing association tenants are more likely to hold home insurance when compared to private renters – This compares to just 1% not having any form of home insurance whom own their property.
Janet Connor, MD of AA Insurance services, was quoted as saying: “It is worrying that 2.4 million households risk losing it all as they have no home insurance.
The widely reported high cost of private rent, may be a reason why renters are not buying any form of cover. With three in 10 low income households saying they do not have insurance, it is possible they see insurance as a ‘nice to have but cannot afford’ purchase.
For less than £1 a week, renters can give themselves and their possessions protection and peace of mind regardless of how they got damaged, lost or stolen.
Rather than have nowhere to turn, we want every household to have some form of insurance cover, as anything can happen.”