50% of UK confused about insurance but their Lego and Labubus are safe
New research from Utility Warehouse reveals that the UK is in an insurance disconnect, with half the population not fully understanding their insurance policies.
New research from Utility Warehouse reveals that the UK is in an insurance disconnect, with half the population not fully understanding their insurance policies.
Despite this, some Brits are going all in on insurance, approximately 350,000 covering their beloved Labubu figures, over 1 million protecting their LEGO, and a jaw-dropping 1.75 million making sure their prized coffee machines are safe.*
Utility Warehouse is offering a simpler, smarter approach to insurance to help befuddled Brits feel confident about their cover and get on the same page.
London, Wednesday, 19th November: New research from Utility Warehouse has revealed when it comes to insurance, many Brits are either underprotected or just plain puzzled, with a shocking almost half (49%) of the UK admitting they don’t fully understand their insurance policies.
While some households are insuring their quirky collectibles, with approximately 350,000 Brits having insured their Labubu figures, 1 million insuring their LEGO and a whopping 1.75 million insuring their coffee machine, others are leaving valuable items at risk. Two-thirds of the nation (66%) only check their insurance once a year, and 65% routinely forget to add new purchases like jewellery, gadgets, and even Christmas presents to their home insurance.
The research suggests a nation divided. On one side, people are protecting household items like TVs (42%), washing machines (37%), and games consoles (19%); on the other, over a third (33%) of households avoid cover altogether claiming it’s too expensive, and just under half (49%) Brits find policies confusing and hard to understand.
David Walter, Chief Commercial Officer at Utility Warehouse, said:
“Insurance can feel confusing, expensive or even unnecessary, but it’s one of the most important protections you can have. At Utility Warehouse, we pride ourselves about being in our customers corner and ensuring they have peace of mind with our insurance products. With all our utility offers on one easy-to-manage bill, whatever you feel the need to insure, it’s simple.”
With Defaqto and Moneyfacts five-star-rated cover, Utility Warehouse helps protect the things that matter most, while helping customers manage their household finances by combining insurance with their energy, broadband, or mobile services. It’s a simpler, smarter way to stay protected without getting tangled in the small print.
So, while much of the UK remains in a muddle over their cover, Utility Warehouse customers can rest easy knowing they’re protected against life’s unexpected moments, by adding their latest tech purchase, their snazzy espresso machine, or fluffy collectible to their insurance policy.