Brits urged 'not to always choose the cheapest home insurance'
People need to check exactly what they are covered for when renewing or taking out a home insurance policy, it has been claimed.
According to the Association of British Insurers (ABI), it is worrying that some people who are at risk from fires or flooding may not be able to afford to replace possessions they could lose in such a disaster.
Therefore it is important for them to take out home insurance to cover themselves.
However, they may not all offer the correct type of protection needed and people have been urged to "shop around but don't necessarily go for the cheapest product but go for the one that's going to be of benefit to you if the worst happens and you need to make a claim", a spokesperson for the ABI said.
In related news, Nationwide has reported that house prices have fallen to their lowest levels since spring 2005.
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