Zurich finds gap in home insurance

10 December 2004
Almost half of British homes are underinsured, Zurich Insurance has found.

Research by the insurer discovered that 40 per cent of the population freely admit their possessions are likely to be underinsured, with the South West the most exposed area.

Ten per cent of UK residents have no cover at all, with this figure jumping to 29 per cent for those aged 16-24.

Items tat are most often underinsured include wardrobes packed with expensive clothes, jewellery, collectibles, art and antiques.

13 per cent claim that they have not increased their cover or told insurers about expensive items as they do not have the time.

But Maria Donald, spokesperson for Zurich Insurance, feels in this instance people should make time.

"It really is worth putting a couple of hours aside to tot up the value of your home contents to ensure that you are adequately covered," she said.

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