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07/01/2009 13:22:03

Homeowners 'caught out by cold snap'

Burst pipes could have a significant impact on consumers' ability to manage their money if they do not have cover in place, Lloyds TSB Insurance states.

According to the financial services firm, those homeowners who lack cover may be faced with damage costing an average of £1,400 to make amends for.

However, claims worth as much as £40,000 have also been recorded.

Meanwhile, it was reported that a 15 per cent rise in burst pipe claims over the course of this year has already been seen as the spell of cold weather continues.

Phil Loney, managing director for Lloyds TSB Insurance, said: "After last year's comparatively mild winter, it's no surprise that so many homeowners have been caught unprepared by the cold snap."

He added that having an adequate insurance policy in place can help give homeowners peace of mind.

In December, Direct Line reported that the colder months are likely to see a rise in claims for fire damage to the home.

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