A new survey by Axa has found that more people insure the family pet, than insure their family income!
It also found that, despite debt reaching more than £1 trillion this year, people in the UK believe that it is more important to buy an extended warranty on a car than to insure their family income. Over 13% believe that getting a parts and service warranty on a car is top priority, compared to just 3% believing that income protection is essential.
Buying an extended warranty on a car was also seen as more important that buying private health insurance or taking out critical illness cover.
Our view
If we gave you a Magic Lamp that you just had to care for and clean everyday and it paid out £2,000 pm, how much would you insure it for? We suggest a few hundred thousand pounds.
Is not the main bread winner your Magic Lamp? Make sure you insure them properly.