Nationwide: Insurance important for buildings

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Nationwide: Insurance important for buildings

Wed 23rd Jan 2008

Many people are unaware of what is covered by their buildings insurance and others do not have any cover at all, according to Nationwide.

A survey of homeowners by Nationwide revealed that 20 per cent have not taken out buildings insurance.

Meanwhile, of those who do have buildings insurance, nearly one-quarter said they do not know the extent of their coverage.

Nationwide's insurance director, Robin Bailey, said that he was surprised at how many people would "gamble" on their homes and possessions by not buying insurance.

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

The Nationwide insurance research indicated that those in the north-east are least likely to have buildings insurance, while people living in London are the least likely to hold contents insurance.

Recently, a Nationwide home insurance offer promised that switched to the building society would see their previous cover price beat.

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