Only 11 per cent of people think mortgage payments are one of the most important things to insure.
Bright Grey conducted a survey of 2,000 people and found that 40 per cent think life cover is the most important protection and 23 per cent believe home contents are the priority.
But when asked what they do insure, 74 per cent say home contents and 61 per cent insure holidays while life insurance is at 53 per cent.
Only 23 per cent insure mortgage payments, 15 per cent have income protection and more people insure their mobile phone than have critical-illness cover.
Bright Grey product director Roger Edwards says: “Surely, running the risk of losing your home is a bigger concern than losing your TV and DVD?
“Many people seem to have sight of their real priorities. Their financial savvy seems to have gone out of the window when deciding what insurance to buy. All this points towards the need for consumers for seek advice when it comes to cover to help them understand their priorities, the options they have and to get the right things insured.”