Nationwide: Building insurance vital

www.moneynews.co.uk > Insurance > Nationwide: Building insurance vital

Nationwide: Building insurance vital

Fri 25th Jan 2008

It is vital that homeowners take out adequate buildings insurance to protect their homes against fire and vandalism as well as harsh weather conditions.

According to a Nationwide survey one in five UK homeowners do not have any buildings insurance cover in place and Charlotte Sjoberg, the building society's campaigns manager, says these people are putting their homes at real risk.

She said it is possible that homeowners shy away from buildings insurance because they believe it is too complicated. However she said it is important for them to understand that it is "not complicated at all".

The devastating floods of last summer highlighted the potential cost of not having buildings insurance and with the Met Office issuing a number of weather warnings over the last few weeks homeowners would be wise to take notice.

However, Ms Sjoberg said: "Irrespective of the weather conditions getting worse it is always really important to cover your home. You really don't know what could happen."

Nationwide's survey also shows that 14 per cent of homeowners have not taken out contents insurance to protect their possessions.

Related News : Insurance
	Under-insurance 'a costly mistake for Brits'
	Rodents and pests 'causing havoc for homeowners'
	Brits 'should be aware of home cover details'
	PPI scandal 'has helped tighten financial regulation'
	Location 'can impact home insurance costs for Brits'
	FSA and CC 'failed to tackle PPI issue head-on'
	Pet cover 'important for Brits to get right'
	UK homes are 'falling into disrepair'
	Brits advised on reducing home insurance cost
	UK insurance 'has become more complex'

Related News : Nationwide
	Nationwide launches new credit card reward scheme
	ICB report recommends easier current account switching
	Mortgages are cheaper than two years ago, claims study
	Students fail to take out insurance 'due to apathy'
	Demand for fixed rate mortgages 'increases in economic uncertainty'
	Nationwide reduces rates on five-year fixed mortgages
	Intermediary mortgage lending 'increases for second quarter'
	Nationwide improves mortgage products for intermediaries
	Nationwide reduces fixed mortgage rates
	NLA survey reveals landlords jittery over possible rate increases