Increasing numbers of British homeowners do not have protection in place to safeguard themselves and their family against unforeseen circumstances, according to a new survey.

Research from insurance providers Friends Provident revealed nearly a quarter of homeowners (24 per cent) do not have cover to pay off mortgage debts in the event of their death.

However, 69 per cent have taken out life insurance that would help their families meet repayments if the worst should happen and the majority have protected possessions as nine out of ten have contents insurance.

Many people fear the sacrifices loved ones may have to make if tragedy occurs – 64 per cent worry that the family home would have to be sold and 34 per cent are concerned that a partner may have to take a second job.

But a poor level of understanding about the types of cover available may be preventing people from having adequate protection, for example life assurance - where a tax-free cash sum is paid out in the event of death - was unheard of by 41 per cent of people.

"Most people are happy to insure their car, their laptop or their mobile phone but often give too little thought to insuring themselves. Everybody's circumstances are different and people need life assurance cover for many different reasons," said Ian Jefferies, head of protection marketing at Friends Provident.

"The key thing for people to remember, especially those with families or other dependents, is that life assurance can soften the financial difficulties for loved ones should the worst happen."