Will Brits consider flats to rent as home insurance is set to rise?
flats to rent in the London borough of Croydon could get more appealing as experts have warned home insurance premiums are likely to rise.
According to Confused.com, this is due to a crime wave in New Hampshire, which saw a burglary ring break into people's homes after monitoring their whereabouts on Facebook.
Although the group was caught by the police, head of home insurance at the company Gareth Kloet said this could mean cover gets more expensive.
He said criminals are now using Google Earth and Street View to plan their burglaries, which insurance providers are not taking into account when giving their customers a quote.
"I wouldn't be surprised if we see rises of up to ten per cent for social media users in the future," he continued.
It is not only home insurance that is getting more expensive, as the latest Halifax House Price Index showed the average property cost £167,953 in August, which was a yearly increase of 4.6 per cent.
Posted by Andy Britten
Published 13th September, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
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One organisation thinks home insurance costs are set to increase by up to ten per cent in the UK.