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Renters without contents insurance

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A new study has revealed that almost half of people living in rented accommodation in Britain have failed to take out home contents insurance.

According to the figures from Populus research, 55% have not bothered with home insurance cover, around a third said they worry about meeting the monthly payments for the policy.

The main reason for renters declining contents insurance was that they felt the cost of premiums were very high, followed by those who believed they do not need it and those who thought it was a waste of money.

The number of tenants shunning the insurance over money worries rose to 50% among middle-aged people. Around a fifth said the cover is unnecessary.

Association of British Insurers said that renters are more susceptible to burglary than home owners and are putting themselves in a risky situation by not having any cover whatsoever.

© Press Association 2011