Did you know that about 25% of homeowners in the UK don’t have buildings insurance? This is a surprising finding from a recent report by Confused.com.
In 2022, the UK was home to approximately 28.2 million households, marking a 6.1% increase over the past decade, according to the Office for National Statistics (ONS). It’s estimated that 25% of these homes lack any form of home insurance, which suggests that as many as 7.5 million properties might be currently unprotected.
What the Report Tells Us:
- Growing Market: The home insurance market in the UK is growing and is expected to be worth £4.1 billion by the end of 2024.
- Buying Online: More than half of home insurance policies were bought online in 2023-24.
- High Coverage: The UK has one of the highest rates of home insurance in Europe.
Why Buildings Insurance Matters: Buildings insurance is crucial because it covers the cost of repairing or rebuilding your home if it gets damaged. Without this insurance, you might have to pay a huge amount out of your own pocket for repairs or even a complete rebuild.
HL Mortgages Can Help: At HL Mortgages, we want to make sure you’re protected. Here’s how we can help:
- Expert Advice: Our team gives you personalised advice to find the best insurance for your home.
- Thorough Research: As whole of the market advisers, we’ll research and compare different policies to find the best deal for you.
- Ongoing Support: We’re here to help you not just with your mortgage, but with all your financial needs.
How to Reach Us: If you need help getting the right buildings insurance, contact us today! If you have an existing policy, feel free to send us the details and we will complete a review to see if we can improve thequality of the cover or reduce the price.
- Phone: 01244 478007
- Email: georgia@hlmortgages.co.uk
- WhatsApp: 07508981087
Protecting your home is important. With HL Mortgages, you can feel confident knowing that you have the right coverage and support.