Home Insurance -
Insurance brokers urged to help low income families - 18/04/2008
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Peter Staddon, head of technical services at the British Insurance Brokers Association (Biba), believes that home insurance should be more moderately priced for homeowners who earn a low income.
He has urged households to consider whether the need for home insurance is the main concern for them and to weigh up the level of risk saying that it may be a “choice between putting food on the table for the children, or insuring the house.”
Staddon also appealed to brokers to make concessions for low income families who were eagerly looking for home insurance, in order to help them financially.
He said, “The broker should be able to say I can find a way I can get you some sort of protection and still put food on the table for the children, because that is the priority. What we need to do for those people who are actively seeking insurance is that we are getting the economics right so we can get a reasonable price for them.”
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