People who opt for cheap home insurance may find it does not offer the level of cover they need, new research from Defaqto suggests.
According to the group, an increasing number of companies are able to reduce the cost of cover because they provide some elements as optional extras.
As a result, some people may sign up to the policies thinking they are receiving protection when in fact they are not, Defaqto warned.
With price becoming increasingly important for consumers, the group is urging people to think carefully before parting with any cash.
"It is important for consumers to focus on policy features when choosing home insurance to ensure they choose a policy that is right for their needs," commented Mike Powell, insight analyst for general insurance.
He acknowledge that it can be all too tempting to opt for the cheapest home insurance policy, but it may prove expensive if a claim needs to be made.
Other recent findings from the research company show there has been a 73 per cent rise in home insurance providers since 2003. |
0 comments
