Wealthy households lack insurance cover
UK home homers are pre-occupied with price rather than cover, with wealthy households most likely to lack the appropriate coverage, according to Datamonitor.
The research found found that although the specialist high value home insurance market is currently valued at £574m in gross written premiums (GWP), if all affluent individuals had the right policy the market could be four times larger than it is now at £1.9bn GWP.
Robert Mattai financial analyst at Datamonitor said: “Many home owners who fall into the wealthy bracket are leaving themselves at risk by using standard home insurance instead of specialist policies which are specifically designed to
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