Print friendly version 18 Jul 2008

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.

Young children are the number one cause of accidents in such households, according to research from Tesco. They are responsible for 42% of all accidents, with damages totalling £229m. Teenagers cause 250,000 accidents, resulting in £68m pounds of damage over the past year. Adults in households with children are responsible for 33% of accidents.

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.”

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