Thursday 21st February 2008
While many consumers believe major disasters will pass them by, reality is often different than expected, Norwich Union warns.
Alison Palmer, household underwriting consultant for the insurer, explains that Britons often take a lackadaisical approach to protecting their property.
But contents insurance could prove a wise investment for many in light of her observations.
"A lot of people just take the view that well, itll never happen to me, Ill be alright, I havent got anything worth insuring," she notes.
Ms Palmer adds: "It can happen easily - people lose everything and its a horrible thing."
She explains that buildings insurance is more widely held due to the fact that many mortgage providers require a policy to be obtained.
However, no such obligation is typically extended to contents insurance, Ms Palmer notes.
As a result, it is estimated that up to 75 per cent of UK homeowners may currently have no such insurance in place.
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