Parents urged to insure before holidays

Parents should not only consider the cost of keeping their children entertained this summer, but also the threat of damage to possessions that arises from having them at home, according to Tesco Personal Finance.

Those without young children shouldn’t rest easy either, however, as 250,000 of the 850,000 accidents that young children were responsible for last year were caused by visiting children. This equated to £68m of damage last year to other people’s houses.

Paul Baxter, spokesperson for Tescocompare, the insurance comparison site, said: “As the saying goes accidents do happen and this research suggests many of us suffer financial loses on an annual basis. What is worrying is that 41% of people don’t cover themselves for accidents in the home, so they’re at risk of being seriously out of pocket.”