The Association of British Insurers (ABI) has launched a new campaign to help those on a low income in London afford comprehensive
home insurance.
Research carried out by the organisation has revealed that those living in poorer areas of London are the least likely to have comprehensive home contents insurance. However, these properties are twice as likely to be burgled than the national average.
Nick Starling, the ABI's director of general insurance and health, said: "Many low-income Londoners struggle to access basic financial products, such as contents insurance. This makes it difficult for them to plan for the future and leaves them at the mercy of unwelcome events, such as burglary."
Graeme Trudgill, technical and corporate affairs executive at the British Insurance Brokers' Association, recently said that having home insurance in place is "an absolute must" for those who wish to have peace of mind.
Therefore, anyone looking to make cutbacks during the financial downturn should look to other areas of their outgoings to make savings.
InsureandGo offers home insurance to cover any loss or damage to belongings in the home.
