Research shows the recession has resulted in home insurance cut backs
London, UK (PRWeb UK) November 7, 2009 -- A study by the Association of British Insurers (ABI) shows that a significant number of home insurance policy owners are considering abandoning their home insurance due to financial pressures.
According to the study, 22 per cent of people are not renewing home contents insurance policies. The research also revealed that 17 per cent of people in the UK are not renewing, or are even cancelling, their home insurance for building cover.
The home insurance cut backs come as recent ABI research shows that a large proportion of people are worried about the threat of burglary. 49 per cent of people say they feel more exposed to the threat of burglary at present, as burglaries and thefts in England and Wales are reported to be on the rise. According to the latest government figures, there were 67,000 domestic burglaries in the UK between April and June 2009. Post Office Home Insurance advises that investing in home insurance cover is vital, especially to provide peace of mind that the contents of your house are covered against theft or damage.
The Post Office urges people to think twice before cancelling their home insurance policies, in order to protect their assets. Post Office Home insurance, for example, offers the peace of mind of cover for the risk of accidental damage or theft to household contents, including items such as TVs, DVD players, hi-fis and computers.
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