The flood hit UK continue to avoid home insurance.
As our towns and cities once again are flooded, a recent article “More than 1/3 of Brits do not have home insurance, despite an increased risk of flooding” in Fair Investment, reveals some surprising results about British homeowners. That even in the face of homes in Britain being absolutely devastated by floods, insurance is not a priority in some households.
You would think the incidences of flooding happening all over the country would be enough to push those currently uninsured to look into acquiring home insurance. Why do we then find that a third of the general public do not feel a need for insurance. What is happening here? The article delves a bit deeper.
With ten per cent of houses up and down the UK at serious risk of flooding (equivalent to up to £214 billion worth of property, assets and land, it comes as a shock to discover that nearly forty per cent of those questioned do not have any house insurance. Breaking it down even further, it was then discovered that men are far less likely than women to purchase house insurance. Only fifty seven per cent of men have house insurance while 64% of women do.
The people at Fair Investment suggest that in this age of frequent flooding and inadequate flood defences that we should all take out home insurance to protect us in the future. Even in these tough financial times, insurance should never be overlooked when flooding could happen to anybody.
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Tags: flood defences, floods, home insurance