Building insurance 'essential' for homeowners

28-Jan-2008

Anyone buying their first property should ensure they take out some building insurance or they may be putting their home 'at real risk', according to Nationwide.

The group has said that there is a tendency for homeowners to neglect policies such as building and home contents insurance as they are often perceived as being overly complicated.

Research has shown that one in five people to not have a building insurance policy, while one in four do not what their existing policy comprises.

Commenting on the trend for people not taking out building insurance, Charlotte Sjoberg, campaigns manager for Nationwide, said: "what's really important for people to understand is that it's not complicated at all, and in fact, having building insurance in particular, is incredibly important as it covers things like a fire; vandalism; storms and floods. Being without it is putting your home at real risk".

First-time buyers may want to consider this advice when buying property.

It may be also possible to cut home insurance costs by combining building and contents insurance, according to Strabane Chronicle.

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