Caravan Insurance

Royal & Sun Alliance is calling for cheaper home insurance to be made available to those on lower incomes.

A report found that there are significantly fewer households in social housing with home contents insurance compared with the national average, but these homes are twice as likely to be targeted by burglars.

The group argues that Housing Association tenants are then likely to see replacing items stolen or damaged as a financial priority, trapping them in a cycle of poverty and possibly preventing them from meeting rent repayments.

However, Royal & Sun suggests that rent insurance schemes could be one way of tackling the problem, with cheap home insurance paid on a weekly basis along with rent.

The typical premium would be no more than a couple of pounds a week if paid for in this way.

Offering policies with a lower minimum amount is another way a home insurance company could encourage more lower income families to get insured.

Home contents insurance is generally more expensive in areas with higher crime, as there is a greater risk that the home insurance company will have to pay out.

The best way to find the cheapest home insurance is to shop around for the best deals and carefully consider the number of belongings you need to cover.