Single Britons at household insurance risk

Posted : 01-07-2005

One third (33 per cent) of single person households are uninsured and despite the high value of their home contents.

The home contents of single person households are worth an average £19,286, according to figures from More Than, making home insurance a necessity, protecting against theft or disasters such as fire and flooding.

With the number of single person households set to rise due to modern trends of higher divorce rates and people marrying later, concerns have been raised over the risk of an insurance time-bomb in the UK.

Commenting on the figures, David Pitt of More Than said: "Nearly a third of Britons are now living alone, but despite owning more high value items than ever before, this group are not covering their contents against potential loss."

Mr Pitt added: "It is estimated that the average disposable income will rise to £30,000 by 2008, which could drive the value of possessions up even further."

Underinsurance has also been highlighted as a concern, with Britons failing to update policies to include new expensive items or to accurately value their possessions.

Home contents insurance can start from as little as nine pence a day, according to recent research.

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