Abbey Peace of Mind 'limits home insurance risk'

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Abbey Peace of Mind 'limits home insurance risk'

Abbey Peace of Mind can limit the risk of having claim payouts slashed by allowing customers to insure their home and its contents for an unlimited amount of money, the insurer says.

New research from Abbey reveals that almost 8.5 million households in Britain risk finding themselves in hot water if they need to make a claim on their home contents insurance.

Nearly three million households have no home contents insurance at all and a further 5.5 million are in danger of having claim payouts cut because they are underinsured, it shows.

The interesting research reveals that people often do not bother to check the details of their home insurance policy. Only four in ten people check the details of their cover when they take out insurance and 15 per cent don't even look at the documents until they need to make a claim.

Lloyd Wilson, head of protection marketing at Abbey, comments: "Home insurance documents might not make for the most interesting reading but people really do need to check they have sufficient cover in place - being underinsured can end up costing people a lot of money."

Mr Wilson says that Abbey Peace of Mind can offer a guarantee to customers by providing an unlimited sum insured for buildings and contents. With Abbey Peace of Mind customers are less likely to ever be underinsured, he claims.

"If you don't want to have to regularly review the value of your contents against your policy with each shopping trip, the best bet is to go for an unlimited sum insured policy like Abbey's Peace of Mind," he says.

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