Why focus on home contents insurance?
Home contents insurance is simultaneously among the most demanded and least accessed types of insurance among low- and very low-income households (see table below). Very low income Low income Households Households ( Demand Take-up Demand Take-up Home contents 79% 44% 83% 61% Buildings 31% 12% 47% 23% Motor 99% 95% 97% 98% Life 55% 24% 61% 37% Source: ABI Insurance Market Study No. 3, 2007 Unfortunately, very-low and low-income households are the people who need home contents insurance the most: Burglary – 1 in 25 social rented housing were burgled in 2007/08. This compares with almost 1 in 50 owner-occupied households (Crime in England and Wales 2007/08, July 2008) Arson – arson rates are 30 times higher in lower income communities than in affluent ones (Tackling Arson, Home Office, April 2006) Flooding – people in the lowest income households are eight times more likely to be living in tidal floodplains than people in more affluent households (Addressing Environmental Inequalities, En
