There is still a big chunk of winter weather yet to come, as experienced residents of the UK will know. Big snow events in February or March can happen, with freezing pipes, high winds damaging roof materials, plus power outages. Then a thaw can provoke localised flooding. So this warning from Homeprotect is timely;
Specialist home insurance provider Homeprotect is urging homeowners to review their home risk exposure during the winter period, as new research reveals widespread uncertainty about key property risks such as flooding, subsidence and extreme weather.
Homeprotect’s study found that nearly one in five homeowners underestimate common winter perils, which could leave many vulnerable to costly damage.
It also revealed that a significant number of UK homeowners lack confidence in understanding which property risks their insurance cover includes. The most common knowledge gaps relate to:
- Subsidence: 32% not confident
- Storm: 28% not confident
- Escape of water: 27% not confident
- Flood: 25% not confident
- Accidental damage: 22% not confident
- Theft: 21% not confident
- Fire: 21% not confident
Younger homeowners emerged as the least confident group. Nearly half (47%) of 18–24‑year‑olds are unsure about subsidence cover, and more than one‑third (36%) say they lack confidence in understanding property hazards or insurance terms. In contrast, around 80% of those aged 55 and over report being confident in their understanding of home risks.
With increasingly unpredictable weather patterns and extremes now the norm in UK Climate, Homeprotect advises households to carefully review their current policies and keep on top of basic home maintenance to help reduce potential risks in the coldest months. At present, one in three homeowners remain unsure whether their cover includes risks such as flooding, storm, or structural damage.
David Joyson, Chief Customer Officer at Homeprotect, comments:
“It’s essential that homeowners clearly understand the risks their properties face and what their home insurance does and doesn’t cover, particularly in winter when weather-related risks tend to increase.
“At Homeprotect, we have analysed our claims data to develop a Home Risk Calculator, a digital tool that enables any homeowner to see how their postcode influences their exposure to perils such as flooding, subsidence, fire and theft – by using our proprietary data to look at risks for properties like theirs in their area, and providing tailored tips to reduce those risks and increase resilience.
“Our research shows that younger homeowners in particular feel less confident. Taking time to review your policy and using relevant online tools to help prepare for seasonal risks now could prevent costly shocks later.”
For more information about the findings or practical steps homeowners can take, visit homeprotect.co.uk or find out the top risks affecting your property using Homeprotect’s Home Risk Calculator.
Be the first to comment