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Younger tenants very unlikely to have contents insurance - claim

Fewer than a third of tenants and other residents under the age of 30 have cover for their contents, it’s been claimed.

Overall, around seven out of 10 UK households have contents insurance, according to the recent report. 

Using FCA and ONS data, Go Compare calculated the number of home insurance policies in place across the nation. 


The findings reveal that just over two-thirds of households have cover for their belongings and 61 per cent have a buildings insurance policy.

More than a third of uninsured tenants and other residents said they opted against getting contents insurance because they didn’t think they would need it. 

The second most common reason was that premiums are too expensive, as 31 per cent of those without cover cited this as the reason for not getting a policy.

People aged between 18 and 24 were the least likely to have home insurance, with 82 per cent of this age group admitting to not having a contents insurance policy in place, followed by 46 per cent of 25 to 34-year-olds. 

For the uninsured under-30s, price was also one of the primary factors, as a fifth of those without policies said contents cover was too costly. However, the main reason cited was that they didn’t feel it was necessary.

Other reasons uninsured residents gave for missing out on home cover included forgetfulness, believing that it’s too hard to claim, and stating that they live in a safe area so it isn’t necessary. 

The most forgetful were those aged 25 to 34, with 13 per cent of those without cover citing this as their main reason for not taking out a contents policy.

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    Most Insurance Policy’s don’t cover landlords for Contents even though large numbers are let furnished, so why should Tenants be bothered with this extra expense for the little they have.
    I believe we have Policy’s not worth anything with about seven downloads and more & more exclusions added every year. I seen a nasty one lately would invalidate most LL claim's yet costs several hundreds of pounds annually.
    As the old saying goes every Insurance policy is the best in the World until you have a claim.


    Insurance companies will always do their best to get out of a claim

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    The other factor, not taken into account in this article is the extra insurance people buy when purchasing goods. How many people have insurance on their mobile phone and other items?

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    I had 2 Ariston Combi Boilers installed at same time in 2 separate flats.
    I took out insurance policy on one and not on other, when the insured one broke down a big deal about when he was going to come then had to come back 3 times before it was eventually fixed. The other one when it broke down the private gas engineer came and done it instantly. It was usually the flow switch minor enough if you know how, although once it was printed circuit on insured one.
    Anyhow I changed both again after 10 years sick of them, with Vaillant Combination Boilers.
    The difference was I had spent very little the uninsured one,
    While the insured one had cost me the price of a new Boiler in policy premiums so my money was gone and still had to put my hand in my pocket again to pay for a replacement.


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