Home insurance 'a social responsibility'

Home insurance has been described as a "social responsibility" by the British Insurance Brokers' Association (BIBA).

The organisation has said that it is important for people to cover the contents of their property, or else they should accept the consequences in the event of major damage or theft.

Peter Staddon, head of technical services at the body, said that some people, particularly on those on low incomes, often consider whether they can afford to take out the cover

"A lot of people think 'what are the chances of my house burning down?' Pretty low, therefore they do not take out insurance," he explained.

"We are trying to make sure that those people can have access to market and that the cost to them should not be a burden."

According to recent research by Zurich Insurance, around £8 billion of goods owned by tenants are not protected against bad weather or crime.

It also found that 37 per cent of tenants have no home contents cover.

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