Despite the average British homeowner owning household possessions worth upwards of £28,000, research also says that one in four British households has not taken any home insurance cover and one in three British households have no building cover.

According to a survey conducted recently on the home insurance cover, it is seen that within the last couple of years, the value of possessions has increased considerably with the Britons. An average British homeowner is said to have household possessions worth £28,000 that includes home furnishings and clothes, etc. The recent inflation has been because of new and fresh investment in iPods, televisions, laptops and computers apart from the regular home furnishings.

Further, the cost of an average accidental claim is said to be over £350. The research also says that one in four British households has not taken any home insurance cover and one in three British households have no building cover.

Earlier people had nothing much to worry about and the general insurance policies were enough to take care of any unfortunate incident. With conditions different than before, break ins as well as thefts have increased, especially in summers. Another factor contributing largely to the inadequate home insurance cover is recession. People are unable to afford the premiums that they are supposed to fill up for the insurance and even if they do, they don’t renew the policies. This is largely due to the inability to maintain the common expenses over and above the expenses of the policies.  People must understand that buying an insurance can save them thousands if something happens, hence they must not consider insurance cost as ‘any other’ expenditure.

Some insurance company websites have an online calculator to calculate policy and premium amount based on the possessions specified. An insurer must also take into account his cash, credits, clothes and jewelry apart from home and furnishing while taking a policy.

Visit your local Neighborhood Watch website for news and information about crime in your area. Keeping up to date with local events and crimes can help you to be aware of developments and perhaps more cautious when looking after your home.