Barriers to take-up
Last updated:
16/09/2009 10:07
Research undertaken by Ipsos Mori for the Government’s Financial Inclusion Taskforce (Mori, Financial Exclusion & Home Contents Insurance, November 2007) identified the following barriers to take-up of tenants contents insurance:
On the demand side:
cost and affordability – although the barrier may in fact be a perception of a lack of affordability
a perceived lack of relevance – the cost would not be worth the benefit
lack of trust and confidence in financial products
apathy / misunderstanding of products
On the supply side:
lack of awareness among landlords of the availability of products
lack of awareness among landlords of the value of products