Investing in bricks and mortar

A quarter of people do not know what is covered by buildings insurance policies, and one in five homeowners does not buy any, a survey for the Nationwide has found.

With flooding hitting the headlines again this week, and the winter weather causing damage from stormy winds, it is not just the increased risk or burglary or fire which should be persuading people.

Nationwide's insurance director, Robin Bailey, said: "It is surprising that so many people are prepared to take such a gamble on their homes and personal belongings when you consider how much time and money we all invest in our homes.

"You never know what is around the corner and for that reason it is vital that people are prepared by having adequate insurance."

The survey also discovered that older people are more likely to have building and contents insurance and that Welsh homeowners are keenest to protect their belongings, with 96 per cent of residents having contents insurance.

23/01/2008 13:56:29