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Contents cover for the price of a cup of coffee?

Contents cover for the price of a cup of coffee?

Millions of people buy a take-out coffee on their way to work every morning, happily handing over around £2.50 or more for their daily fix.

Spending £2.50 everyday soon adds up – if you take the average working week, it’s around – £600 yet all the purchaser gets out of it is perhaps a mild caffeine rush that lasts for an hour.

Coffee or home cover? One-in-four miss out

Yet, latest statistics show that there’s a relatively high statistical chance that the same person won’t spend considerably less on something that, while it might got give them an instant warm glow, would be of far greater benefit to them.

Research from the Association of British Insurers (ABI) reveals that one-in-four UK households don’t have any financial protection for the things they keep in the home and take out and about during the day.

Zero compensation risk

Without home cover, householders won’t receive a penny in compensation if any of their possessions are lost, stolen or damaged.

It could be a laptop that cost a thousand pounds, a bicycle that could easily have cost more, or a treasured engagement ring that not only might cost more again still, but has incalculable emotional worth.

And if you add in sofas, curtains, electronic items and carpets that could be destroyed in a house fire, for example, it could take years for many consumers to save up for replacements.

Average possessions worth £35,000

In fact, the most recent ABI figures put the average value of possession in the home at £35,000 and there aren’t many people who have that sort of cash at the ready if events took a tragic turn!

The price of cover may, of course, be an issue for some but the cost has actually fallen to a record low. The ABI’s findings also indicate that the average cost of a home contents policy now stands at only £127 a year, which is just £2.40 a week – much less than that daily coffee.

The areas where people take the most risk

Of the six million households that take the chance of not having any cover in place, most are in the London area, with homes in Northern Ireland being the best protected.

Nearly one-in-two Londoners go without any protection for their possessions covered whereas it’s only 18% in Northern Ireland.

Many in the North East, in Newcastle and Northumbria, are also clearly risk-takers, with almost one-in-three (32%) not having any contents insurance.

The West Midlands, Scotland and the North West are the next bunch of ‘chancers’ on the list at 28%, 26% and 24% respectively.

Despite many in the South East having lived in London at some point, or go in daily for work, they clearly take the opposite view of risk to those in the capital as it’s the area in which people are second most likely (19%) to have taken out cover for the things they own.

Similarly, those in the East Midlands are unlike their counterparts in the West Midlands as they’re third most likely to be covered (21%), followed by the sensible folk of Yorkshire and Humberside (22%).

And citizens of East Anglia, the South West and Wales all clearly have a similar view and sit in the middle on 22% each.


Policy Expert

Our customers are at the heart of everything we do, so we have a team of experts with a real passion for making sure people get the cover that’s right for them. For more information, you can call our experts on 0330 0600 600 or visit for more ways to reach us.

Published 18th February 2019