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Banking, Finance & Investment: LV= warns of 264m repair bill for alcohol-fuelled home accidents
 

LV= warns of 264m repair bill for alcohol-fuelled home accidents


LV= warns of 264m UK repair bill for alcohol-fuelled home accidents this summer leaving uninsured homeowners out of pocket


[UKPRwire, Mon Jul 26 2010] LV= is warning that accidents caused by Brits drinking and partying at home this summer is predicted to leave UK homeowners with a total repair bill of 264 million*.

New research by LV= home insurance suggests that the explosive combination of the football world cup and hot weather has fuelled a boom in alcohol-related accidents, as Brits increasingly hold parties at home. Based on last year's breakages, 73,000 TV/computer/games console accidents, 686,000 stains on carpets, and 955,500 breakages have already happened this summer.

Of last year's accidents 56% admitted that alcohol was involved and 31% stated the guest who did the damage was 'quite drunk' when the accident happened. A further 44% admitted they were 'a bit tipsy' at the time. The most common accident was broken glass or crockery (29%), followed by spillages causing damage to furniture (22%) or stained and damaged carpets (20%).

LV= is warning homeowners to ensure they opt for accidental damage cover as part of their home contents insurance, so that if any serous mishaps occur they are not left out of pocket paying to put the damage right.

According to the LV= survey, 19% of Brits expects to entertain more this summer than last year, with the average household hosting three gatherings over the season. The hot summer appears to be making Brits more likely to open their doors to friends, with 49% citing the weather as a major reason to celebrate at home.

The wave of sporting events this summer is also encouraging 12% of Brits to entertain more, while 5% claim that a TV event like an X-Factor final spurs them to plan a party. Around one in seven parties (15%) ends in some sort of damage caused either by the host or an over-enthusiastic guest.

The research findings echo internal home insurance claims data from LV=, which shows that homes suffer more accidental damage over the summer months than at any other time of the year.

John O'Roarke, managing director of LV= home insurance, said: "Everyone enjoys having get-togethers at home and the hot weather is a great excuse for a party. But our research shows that having friends over can often result in accidents, and we see thousands of insurance claims each year for problems like red wine spillages on carpets. We are therefore warning homeowners to ensure they have accidental damage cover as part of their home buildings and contents insurance, so that they're protected in the event of anyone celebrating too enthusiastically."

- ends -

Notes to Editors:
* In 2009 11% of Brits had accidents while entertaining in the home. If 11% of Brits have accidents this summer while entertaining = 5.3m. 56% admitted drink played a role in accident = 2.97m with average cost of 89 per head, or a collective total of 264,330,000.

All research unless otherwise specified was conducted by Opinium Research. Opinium carried out an online survey of 2,015 UK adults aged 18+ from 22 to 25 June 2010. Results have been weighted to nationally representative criteria.

UK adult population = 49,121,000 (population projections by ONS, 2010).

About LV=:
LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.

LV= employs over 4,000 people, serves over 3.8m customers and members, and manages around 9.5bn on their behalf.

Liverpool Victoria Insurance Company Limited, registered in England and Wales number 3232514, is authorised and regulated by the Financial Services Authority, register number 202965. Registered address is: County Gates, Bournemouth BH1 2NF. Tel: 01202 292333

For further information, please contact:
Emma Banks
LV=
69 Park Lane
Croydon
CR9 1BG
0208 256 6714
www.lv.com








Company: LV=
Contact Name: Emma Banks
Contact Email: enquiries@pr-sending.co.uk
Contact Phone: 0208 256 6714
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