Neighbour-proof your home

Published 04th Jun 2007

Your home might be insured against storms, subsidence and burglaries, but have you insured it against your neighbours?
Around 543,000 UK households suffer damage at the hands of their neighbours every year according to recent research from Abbey, collectively costing them £93.4 million in damages.

Breaking it down by region, Londoners are most likely to accidentally damage their neighbours’ properties, whilst the Welsh take the most care when it comes to those either side of them. Nationwide, nearly one in twenty households have seen the total repair sum rise in excess of £1,000.

Prasad Shastri, head of insurance marketing at Abbey, said: "Not all damage caused to people’s homes by their neighbours is malicious, in many cases this type of damage is accidental. However there are often misconceptions about whose insurance is to be used to claim for it.

“It is always the policy holder of the damaged home that will need to submit a claim. For example, if your neighbour was to cut down a tree that accidentally breaks a window, it is only you that can claim for damage to your property, not your neighbour, highlighting how important it is for you to make sure your insurance covers you against accidental damage caused to your property by other people.”

When looking for a suitable home insurance policy, homeowners are advised to make sure they’re taking everything into account, not just the face price of the policy. Also it is important to check if the policy charges extra for paying by direct debit as some insurers penalise you for paying this way – with some charges as much as 34.9 per cent APR. Finally, look for policies that have been given a five star rating by Defaqto. This signifies that it has some of the best quality cover available in the market.
By Ariane Buteux

Source: ' Personal Finance & Savings '

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