Cashpoint

Millions of low earners who rent homes are taking a big risk by not having contents insurance.

When accidents happen they have to turn to high-cost credit or payday loans to replace or repair items.

Worst hit are those earning less than £17,000, says a report by Matthew Oakley of WPI Economics.

They are more prone to burglary, fire or flood than other groups, the report commissioned by Aviva found. It calls on the Government and insurers to help more low earners to get cover which can start at as little as £1.30 a week. Aviva has linked with social lender Moneyline to pilot home contents insurance for the poor.