Researches have found that many Londoners struggle to get themselves contents insured due to the financial problems. This increases the concerns of Associations of British Insurers (ABI) to promote insurance among homeowners.

Associations of British Insurers (ABI) resulted that there are about 750,000 people living in social housing or local authority in London. Those people are the most vulnerable households in terms of crime and burglary. Report showed that households in the social housing areas are twice as likely to experience burglary whilst three times more likely to have fire accidents occurred. Yet, these people are in the group that is the least likely to have insurance covered with their property than other areas of households in the UK. Statistically, research reported that 4 in 10 people in these social housing areas are uninsured and unprotected. Other than that, survey had also showed that 22% of Britons had cancelled or not renewed their home insurance in the past 12 months.

The phenomenon of households trying to cut the home insurance and contents insurance due to financial problems under the economic climate worries the Associations of British Insurers (ABI). In order to tackle this problem, insurance initiative is needed to set up and help households who are in need. Therefore, this leads to the meeting of the ABI and two other insurance-related companies held earlier this week (22^nd June) with the London local authorities and housing associations to discuss on the schemes to promote insurance - in particular tenants’ insurance. These schemes are developed to allow social landlords in offering low-cost insurance to vulnerable tenants for covering their personal possessions.

It is always important to have yourself insured with the right insurance - especially when the property is situated in an area with high risk of crime and burglary. It has to be noted that insurance is the way to provide fundamental and long-term safety to you, your belongings and the property. To get a cheap landlord insurance or home insurance for your security - Click here.