Kids at home cost GBP2 billion, says home insurance expert

Fri, 30 Jun 2006

Parents in the UK could end up with a costly repair bill and a hefty home insurance claim, according to an expert.

The total cost of damage caused in UK homes by children over the summer holidays amounts to £2 billion, states home insurance provider Lloyds TSB.

Damage caused by children over their extended school break causes home insurance claims to rise by 25 per cent, with accidents ranging from broken windows to wrecked furniture.

Around eight out of ten parents have spent up to £100 in the past year, repairing damage caused by their kids while one in ten have had to spend up to £200.

However, 15 per cent have parted with as much as £500, while two per cent have found themselves forking out up to £5000, which may well result in a large home insurance claim.

Phil Loney, managing director of Lloyds TSB insurance, said: "Home insurance might not be a legal requirement but it really can come to the rescue where children cause havoc in the home.

"While it might not prevent a broken window or a soiled carpet, it can easily save pounds in the pocket"

Recent figures from home insurance provider Zurich show that home alone children throwing parties has cost UK parents some £136 million over the last year.

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