Not having home insurance 'could be disastrous'

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Not having home insurance 'could be disastrous'

Up to a quarter of people have cancelled their home insurance in the last year in a bid to save money, according to Sainsbury's Home Insurance.

Ben Tyte, Sainsbury's home insurance manager, said that in the current economic climate, many consumers are looking to dumb down their insurance, or do away with it completely.

However, he warns that this is false economy as not having cover could lead to disaster if something goes wrong and advises shopping around to find the best deal.

Sainsbury's has urged consumers to spread the cost of their insurance over the year. However, looking for the best deal is key as 68 per cent of policies charge for this service.

With Sainsbury's home insurance, customers can pay their cover in installments for no extra fee, as well as getting a 30 per cent no-claims bonus.

Earlier this month, the insurance provider found that there had been a 13 per cent drop in insurance claims despite a rise in the number of burglaries, indicating that people may not have adequate cover on their homes.

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