Does your Home get better Protection than your Family?

16-Dec-2009

New figures by insurer Scottish Provident show that whilst 71% of Britons have home contents insurance, only 44% have life insurance and a mere 15% have taken out critical illness cover.

On one hand, it is encouraging to see that as many five in seven Britons protect their home contents from damage, theft or loss.  This type of cover is especially important over the Holidays, since the presents inside a home in the build-up to Christmas can significantly increase the value of the home contents - and the risk of a burglary. On the other, the fact that so few have life protection means that many Britons could be leaving their families at risk.

Susan Barclay, Head of Marketing, Scottish Provident said: "It is great to see that people are taking out adequate insurance to cover the items in their homes, especially in the run up to Christmas when people are making lots of purchases. However, this should not be at the expense of personal cover.

Interestingly, the survey also showed that people imagine life cover to be far more expensive than it actually is.  Life cover can be bought from around £10 per month, and critical illness cover - where you receive a lump sum of money or a set income should you develop a serious health condition - can be included on a life insurance policy for a relatively low additional cost.

"Despite the fact that almost a half of the respondents perceived personal insurance as too expensive, people need to be aware that life protection can be bought from as little as £10 per month, and extras such as critical illness cover can be added for around £17 extra a month."

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