Up to £68bn needed to cover school holiday accidents in the home

Parents may have to pay up to £68 billion each year to cover damages to their homes incurred from children being off from school, new research shows.

According to findings from Abbey, almost three quarters of families in the UK have had at least one household item damaged by a child in the past ten years with the average cost being £140.61 each time an accident occurs.

Lloyd Wilson, head of Abbey Insurance, said: “School holidays are prime time for breakages so parents be warned.”

“Although it can be expected that children will clumsily damage household items, the cost of replacing damaged goods can come as a nasty shock,” he added.

The research showed that more than half of 16-18 year olds have apparently damaged electronic equipment, the highest percentage across all age groups.

Meanwhile, the average annual premiums for car and home insurance in those in Islington in North London are the highest in the country according to a study conducted by actuarial consultancy EMB.

Tags: EMB, electronic equipment, prime time, three quarters, half, home insurance