New cold snap prompts home insurance reminder
12 February 2010 16:51:10
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| Burst pipes can lead to large home insurance claims. |
AXA revealed that it has already received hundreds of claims for damage caused by burst pipes, with the average cost reaching £30,000.
Many homeowners have had nothing but a small excess to pay in order to qualify for a payout, but those who had neglected to take out home insurance have had to foot the entire cost of repairing homes and replacing possessions.
Nick Kidd, head of home insurance at AXA, commented: "Not only does burst pipe damage have financial implications, especially if insurance is not in place, but it can also cause huge emotional trauma from ruined personal belongings."
Mr Kidd expressed concern that some homeowners have still not learnt lessons from the last stretch of cold weather and may be caught out this month.
He advised: "We are urging homeowners to do what they can to prevent themselves becoming the victim of a burst pipe.
"Even if they're just going away for a weekend there are things they can and should be doing to protect their homes, such as leaving their heating on."
Home insurance provider M&S Money recently reported a 200% rise in the number of claims for water damage over the winter months.
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