Wednesday, June 13, 2007
Category:
Home Improvements
New research from Halifax Home Insurance has found that over one million British holidaymakers return from a holiday to find that their house is not as they left it.
The insurer’s research has revealed that in 2007, British holidaymakers can expect to return to a £2.3 billion repair bill to cover the damage caused by criminals, the elements, friends and family and faulty utilities.
Burglars have paid a visit to around 2.5 million homes over the past 10 years whilst the owners have been on holiday. These burglaries have cost more than £820 million per year to replace stolen items and repair damage to the home. As well as burglaries more than 600,000 holidaymakers have returned to find their home vandalised in their absence.
The elements have also caused many homeowners headaches on their return. 1.7 million Brits have arrived home to find that their properties have suffered over £960 million of damage a year to put right as a result of water damage from burst or leaky pipes. Almost 700,000 Brits have returned to storm damage and over 100,000 to fire damage.
Friends and family are also a cause of damage it seems according to Halifax Home Insurance. Almost one million Britons came back home to find that their children had played havoc in their homes totaling over £40 million annually. House sitters also caused a problem for almost half a million people who found that damage had been caused by people they had trusted to look after their homes.
Utilities are another area where Britons suffered bills for repair. Faults appeared in central heating, hot water, gas or electricity, which resulted in a cost in excess of £210 million per year to fix.
Vicky Emmott, senior manager of underwriting at Halifax Home Insurance, commented:
“Home disasters can be extremely distressing at the best of times, so returning to one after a relaxing holiday would certainly bring you back down to earth with a bump, so having adequate home insurance cover to protect your property - whether it’s occupied or not - is absolutely critical. After unexpected shocks like these we find that policyholders really appreciate our personal claims consultants who are highly trained to help customers get their lives back to normal with minimum fuss. As well as making sure they are insured there are lots of other practical things that holidaymakers can do to protect their properties whilst they’re away. For example, ensuring that the heating comes on during the winter can prevent pipes from bursting, and canceling regular deliveries like milk or newspapers make it less obvious to a thief that your property is vacant.”
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Homeowners wishing to carry out essential home improvements before they depart on holiday or even to rectify any problems that arose while on their holiday could consider taking out a secured loan, one of the many options available to help finance these projects. A home improvement loan could allow homeowners to repair utilities and even help towards the purchase of a new boiler. Whether homeowners choose to fund large projects such as retiling a roof to protect against the elements or simply a lick of paint to cover unsightly water damage on walls, a secured loan could be the answer. Contractors could be financed to modernise old fashioned kitchens or leaky bathrooms using a home improvement loan. Made payable over a term to suit the borrower from 5 to 25 years, a secured loan could ensure that homeowners are glad to be returning home after a holiday.
