Home insurance vital, says Biba

Posted: 10 Jun 2009 11:35:35 GMT

Home insurance is "very important", according to the technical and corporate affairs executive at the British Insurance Brokers Association (Biba).

Graeme Trudgill has warned the UK's property owners that, even though the country is going through a recession, they must not scrimp on cover.

The value of an individual's contents and their bricks and mortar effectively amounts to their worldly goods, he explained.

Mr Trudgill issued the warning after Biba recently revealed that 23 per cent of brokers have seen their personal lines customers decrease their level of insurance protection in recent months as the economic crisis has taken hold.

"It is vitally important for such a small cost that, of all the insurances that you do choose, the household ones - buildings and contents - and the motor ones are an absolute must," the insurance expert commented.

Buildings insurance is a necessary requirement for everyone with mortgages, and the Biba representative revealed that the average premium for this cover is just over £200.


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