Nearly 1.5 million Brits put homes at risk

Half a million homeowners admit to only covering contents, while 750,000 have buildings insurance only; a quarter of a million homeowners admit to having no cover at all. The survey also reveals that 11 per cent of homeowners in London and the South East are putting themselves at risk of costly payouts.

Julie Owens, head of home insurance at said: "Inadequate cover is a serious problem for many homeowners, and is a very dangerous position to be in.

"Homeowners seem to be taking the ‘either/or’ approach by foregoing some part of their home insurance, but having both buildings and contents cover is important and not as costly as many may think. Common incidents such as accidental damage, burglary or loss of possessions away from the home can lead to very expensive bills without contents insurance to protect you, and most mortgage providers will insist you have buildings cover before they lend to you.

"Those quarter of a million homeowners with no cover at all are taking a huge unnecessary risk, problems such as subsidence, burst pipes, personal liability and even boiler breakdown in some cases could land you with a bill well into the thousands of pounds.

"Giving yourself peace of mind by having appropriate buildings and contents insurance is well worth it and doesn’t have to cost a lot. I would recommend shopping around for the best deal to suit your needs, buildings and contents insurance is available from as little as £169 a year.

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