Social network users could face higher insurance premiums

Tue, 23 Feb 2010

Consumers using social networking websites such as Facebook and Twitter may face higher insurance premiums, it has been reported.

Confused.com has predicted that insurers can disapprove of people who store all of their address details online and who frequently update their location, particularly if they are not at home. Darren Black, head of home insurance at confused.com, said: "As social media grows in popularity and more location-based applications come to the fore, insurance providers consider these in their pricing of an individual's risk and we could see hikes of up to ten per cent."

Mr Black added that criminals are increasingly using online facilities like Google Earth to plan their crimes and warned homeowners that while insurance is essential, home security does not just mean locks and keys.

Many consumers may need the money that would be spent on higher premiums, after the price comparison site revealed that 73 per cent of consumers were more aware of how much energy they used during the cold snap.
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