Queenslanders 'run the insurance gauntlet'

A growing number of Queenslanders are running the risk of major financial loss due to a lack of home and contents insurance.

An RACQ study found more than 10 per cent of householders in the state had no home building insurance, while 7.3 per cent had reduced their level of home insurance over the past year.

In addition, more than a third of Queenslanders were without home contents insurance.

RACQ executive manager insurance communications, Mike Sopinski, was alarmed at the findings and warned, with the notorious Queensland weather, homeowners potentially face "huge losses".

Underinsurance was also identified as a concern, with nearly 10 per cent of householders believing they did not have a sufficient level of cover.

Mr Sopinski said that not only was it vital to have insurance, but "the level of cover must be checked annually".

"Your home should be insured for the amount needed to rebuild it at today's prices and building standards, inclusive of all planning, architectural, engineering, construction and associated costs," he said.

Among the reasons, 55 per cent of homeowners believed the value of their home had not increased while 33 per cent claimed to have simply failed to get around to it.