Home Insurance Claims Decrease by Volume and Value

The latest report published by Sainsbury's Home Insurance – provided by the Sainsbury Bank – suggests that the number of insurance claims inrnrnthe first 6 months of the year of 2009 saw a dramatic decrease from a staggering 527,000 in the first half of 2008 to 373,000 this year. The information was revealed in the the Sainsbury's Home Insurance Claims Index that measures home insurance claims by volume and value every 6 months.rnAccording to the Sainsbury's Home Insurance Claims Index, the dramatic difference in the number of insurance claims by both, volume and value, between the 2 periods can be explained by the fact that the year of 2008 saw a lot of storms, which caused a lot of damage to properties in the UK. Estimations show that the number of home insurance claims associated to storm damaged was 166% more in 2008 than this year.rnThe Sainsbury's Home Insurance Claims Index also showed that an average home insurance claim in 2009 amounted to £735, down from £918 during the same period last year. Moreover, an average insurance claim for storm damage in March 2008 amounted to £460 and only to £93 in March 2009 (an almost 80% decrease).rnCommenting on the results of the report, manager of Sainsbury's Home Insurance, Ms. Lucy Hunter, said that the Index clearly illustrates the impact of weather conditions on the number of home insurance claims. As such, in the first 6 months of the year of 2008, home insurance claims associated with storm damage amounted to 15.9% of all insurance claims received by the company, which compares to only 8.5% this year.rnAccording to the Index published by Sainsbury Home Insurance, the top 3 reasons for home insurance claims in 2009 were water escaping, accidental damage, and theft, which compares to water escaping, storms, and accidental damage in 2008.