Friday 6th July 2007
Up to 5,000 households hit by the recent floods could lack contents insurance, according to Abbey.
Research conducted by the firms home insurance arm determined that as many as one in four of the flooded households could be underinsured for the damage.
The financial services provider suggests that the figures could provide a valuable lesson for those who see home insurance as an "optional extra".
"In fact good cover for your home is vitally important for protecting yourself against the unknown, such as the recent flooding," explains Prasad Shastri, head of insurance marketing at Abbey.
"This demonstrates how important it is for people to ensure that they not only protect their property, but take out a policy that will comprehensively cover them."
The figures follow warnings from the Association of British Insurers that homes could be left without contents insurance if the government does not fulfil its promise to invest in flood defences.
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