Zurich concerned about ABI home insurance survey

Zurich Insurance is very concerned about the issues raised by the ABI home insurance survey. According to the ABI/YouGov research, an alarming number of people (22%) say that in the last year they have cancelled or not renewed their home contents insurance to save money, with 17% saying that they no longer have buildings insurance.

Mike Quinton, Managing Director of Zurich's direct insurance business in the UK said "This is a worrying set of statistics for all insurers. Customers have to realise that cancelling their buildings and contents cover may give them short term gain, but is likely to lead to long term pain should the worst happen. In the last few years we have seen major floods and storms, and even tornadoes and earthquakes here in the UK. Insurance is there to put you right should these unfortunate events affect you.

If the effects of the recession are making you think about cancelling your policy, the best advice is to give us a call and talk through your current cover to make sure all the details are accurate and you are appropriately insured. There may be changes you can make to reduce your cover and therefore reduce your premium.”