Why do I need Home Contents Insurance?
Money is tight for most people these days with the recent recession putting extra pressure on our pockets. It is easy to dispose of insurance as you would other luxuries when reviewing monthly expenses; unless you've had a claim, you never see the value of the money you pay.
However, the flood, fire or burglary is much more common than we think. The Association of British Insurers (ABI) has released the following statistics:
2007/08 - 729,000 domestic burglaries in England and Wales
2007 - The summer floods affected 120,000 homes and businesses in the UK
2006 - 55,800 domestic fires in the UK
The risk of fire, flood and burglary unfortunately increases amongst lower income households. The ABI revealed that '1 in 25 social rented houses were burgled in 2007/08'. Compare this to almost '1 in 50 for owner-occupied households'. Flood is also an issue with 'lowest income housing eight times more likely to be living in tidal floodplains'. Finally, occurrences of arson are '30 times more likely in lower income communities'.
These statistics are worrying as the take up for home contents insurance is statistically low amongst social housing tenants in particular. It is important to remember that replacing contents is not the responsibility or the housing association, it is the responsibility of the tenant.
FARR offer a specialised home contents insurance scheme exclusively for social housing tenants. We offer benefits that normal high street insurers do not. For example:
- No excess
- Low cost - you can insure you contents from as little as 38p per week
The question then remains - can you afford not to be insured?
For further information regarding home contents insurance please contact the development team on 0845 129 8042 or email development@farrinsurance.co.uk
For further information on the advice given please visit the ABI website.
Why do I need Home Contents Insurance?
Money is tight for most people these days with the recent recession putting extra pressure on our pockets. It is easy to dispose of insurance as you would other luxuries when reviewing monthly expenses; unless you've had a claim, you never see the value of the money you pay.
However, the flood, fire or burglary is much more common than we think. The Association of British Insurers (ABI) has released the following statistics:
2007/08 - 729,000 domestic burglaries in England and Wales
2007 - The summer floods affected 120,000 homes and businesses in the UK
2006 - 55,800 domestic fires in the UK
The risk of fire, flood and burglary unfortunately increases amongst lower income households. The ABI revealed that '1 in 25 social rented houses were burgled in 2007/08'. Compare this to almost '1 in 50 for owner-occupied households'. Flood is also an issue with 'lowest income housing eight times more likely to be living in tidal floodplains'. Finally, occurrences of arson are '30 times more likely in lower income communities'.
These statistics are worrying as the take up for home contents insurance is statistically low amongst social housing tenants in particular. It is important to remember that replacing contents is not the responsibility or the housing association, it is the responsibility of the tenant.
FARR offer a specialised home contents insurance scheme exclusively for social housing tenants. We offer benefits that normal high street insurers do not. For example:
- No excess
- Low cost - you can insure you contents from as little as 38p per week
The question then remains - can you afford not to be insured?
For further information regarding home contents insurance please contact the development team on 0845 129 8042 or email development@farrinsurance.co.uk
For further information on the advice given please visit the ABI website.