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Aug 14, 2006
According to a
study made by household insurance provider Select and Protect, one in five of
UK households are not bothered with home contents cover despite the potential
for financial disaster in the event of a fire, flood, crime or even accidental
damage. At present, a typical family home in the UK now contains around £45,000
worth of possessions – a 42% increase in the last 10 years. This increase is
driven by the households’ obsession with state-of-the-art products ranging from
top of the range cookers to wide screen televisions, iPods and DVD players.
Select and
Protect, whose policies are underwritten by Norwich Union, has introduced a
range of additions to its contents cover in an effort to redress the balance
and encourage home owners to take their contents cover more seriously. This
includes an increase in the sum insured from £40k to £55k, effective without an
increase in premium costs, as well as optional personal belongings cover anywhere
in the world and enhanced protection of its no claims discount. The company
says new policy holders will also receive fourteen months cover for the price
of twelve, giving two free months at the end of the policy’s first year.
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