Millions of households in the UK are underinsured for their contents insurance, putting them at significant financial risk in the event of loss or damage. Recent research by Go.Compare home insurance revealed that 5.6 million homes do not have adequate cover, and an alarming 9.3 million households lack any contents insurance, leaving their possessions completely unprotected.
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The calculations, based on the 2021 census data and ABI statistics, highlight a widespread issue affecting millions of residents. Ceri McMillan, a home insurance expert at Go.Compare, emphasized the potential financial peril facing many households.
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