February 29 2008

More than 1 in 3 homeowners at the mercy of Mother Nature | Cheap Car Insurance and Home Insurance from Confused.com

Figures from Confused.com show that almost 35% of UK homeowners do not have buildings insurance, leaving them vulnerable to acts of God like Wednesday’s earthquake and the recent flooding.

Debra Williams, managing director of Confused.com, comments:

“It is estimated that this week’s Lincolnshire tremor has created more than £10 million worth of damage, or in insurance terms – a huge potential for payouts. Although large earthquakes are few and far between in the UK, it is important that homes are insured against such eventualities and more common disasters such as flooding and fire. Standard policies should cover earthquakes, as well as lightning strikes, storm damage and falling trees, but it is always worth double-checking. The force of Mother Nature can be extremely destructive.

“It is as a result of such potential for damage that it is important not to adopt a haphazard approach to buying insurance, as this will almost certainly leave you out of pocket. While using a price comparison site can save you time, unless you do your homework at the outset, you could be in danger of leaving yourself exposed to a large and unexpected repair bill.”



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