Carl Stacey

UK residential properties are 'woefully underinsured'

Assurant Intermediary has claimed that the UK’s residential properties are woefully underinsured.

According to ABI data, a quarter of UK homes have no home contents insurance.

Northern Ireland (18%) and the South East (19%) have the lowest percentage of homes without cover, while areas without cover included London (45%), the North East (32%), the West Midlands (28%) and Scotland (26%).

“Any customer who says either they can’t afford [home insurance], or it will never happen to them is not only unrealistic, but taking a considerable financial risk,” said Carl Stacey, head of distribution at Assurant Intermediary (pictured above).

“With these statistics it is very clear that it is not a risk worth taking.

“I would urge every mortgage or financial adviser to make sure that all of their customers are properly covered.”

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