Renters failing to take out home insurance

Around one million people who are renting properties in the UK are failing to insure their home contents, according to research by Zurich.

The company has claimed that one in ten people who do not have cover believe that their landlord's policy would cover their belongings, while almost a quarter state that the risk is not high enough to make buying insurance worthwhile.

Despite this, the findings also found that a third of private renters believe that their possessions are worth around £10,000 in value.

Steve Gilbert, Zurich Insurance's home underwriting manager, said that in the period after Christmas, insurance can slip down a homeowner's list of priorities.

He added: "Be it funding other financial priorities, their lifestyles or even perhaps saving to get a foot on the property ladder themselves, they need to be aware that not having insurance could cost them dearly in the long run."

Nationwide campaigns manager Charlotte Sjoberg also recently stated that buildings and contents insurance are equally important to property owners.

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