Millions of UK Homes At Risk Due to Underinsurance
Tens of millions of Brit households are skating on thin ice with their home contents insurance. Shocking new research from Go.Compare reveals 5.6 million homes are underinsured—and an eye-watering 9.3 million don’t have any contents cover at all. That spells disaster if their belongings are lost or damaged.
Underinsurance Crisis: What the Numbers Say
The stats, based on 2021 census data and ABI figures, show this is a widespread problem across the country. Home insurance expert Ceri McMillan from Go.Compare warned about the dangers.
“It’s shocking to see so many people without the proper cover to protect their possessions. Millions of pounds could be lost in disasters. Everyone needs to step up and ensure their items are shielded,” McMillan said.
Why Underinsurance Could Cost You Dearly
If your policy falls short, you won’t get enough money to replace valuables after disasters like fire, flood, or theft. That could leave you out of pocket with bills piling up.
“It might not be top of your list, but you must update your contents’ value regularly. Otherwise, you risk being underinsured when the worst happens,” McMillan added.
How to Keep Your Contents Properly Covered
- Revalue your belongings each time you renew your policy or after big purchases and gifts.
- Check your policy’s single article limits—items worth over £1,000 often need separate declarations to ensure full coverage.
- Use tools like Go.Compare’s free contents insurance calculator to accurately value your possessions.
“If you’re unsure how much your stuff is worth, our calculator is a great place to start to get the right coverage,” said McMillan.
Don’t Delay—Protect Your Home Today
This wake-up call proves updating your home contents insurance is essential. Make sure your policy matches the true value of your belongings to avoid a costly shock when disaster strikes.
