Home insurance claims to soar in 2012

By Marianne Straker, Thu 5 Jan 2012 - Published in Home Insurance

Home insurance claims are set to soar in 2012 due to the number of major events taking place in the UK, according to Axa Personal Lines.

Research by the company found that events such as the Olympics, Euro 2012 and the Diamond Jubilee will mean an increase in people having parties at their own home.

The insurer believes that more family get-togethers will see a rise in accidental damage and losses. For instance, on New Year's Day the company saw a 78 per cent increase in losses.

Direct Line has also reported a 300 per cent rise in home insurance claims after storms hit the British Isles causing damage to properties across the country.

Christine Matthews, head of household claims at Axa Personal Lines, said: "Around 20 per cent of homeowners have no contents insurance leaving themselves very vulnerable in the face of a year of very real increased risk."

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