Subsidence risk from parking trend

London and south-east homeowners could find themselves at an increased risk of subsidence after they, or their neighbour, convert a front garden into a parking space, an insurer has warned.

New driveways cause water to run off into drains instead of soaking into flowerbeds and reaching tree roots, leading roots to search for water and upset the moisture balance in soil underpinning nearby foundations, esure home insurance said.

A British Geological Survey report commissioned by the insurer found that more than 100,000 properties in Greater London are at risk from the phenomenon.

Nikki Sellers, head of home insurance at esure, said: "It is very appealing for homeowners in busy streets to create a bespoke parking space for their property.

"Unfortunately, for houses with a street tree or large front garden tree nearby this can significantly increase the risk of subsidence. A dedicated space may increase the value of your home but subsidence damage will do quite the reverse."

The firm said that homeowners should watch out for signs of subsidence such as cracks in the front bay, porch way or brickwork of their home and inform their insurer early if they are worried.

Thieves pedal off with £146m of stolen bikes

A bike is stolen the equivalent of every 71 seconds in the UK, according to a new report from an insurer.

British Crime Survey figures show that 439,000 bikes are stolen each year - ten per cent higher than a year ago - and Halifax home insurance believes that thieves are exploiting Britain's green conscience.

It claims that the rise in thefts is a result of increased bike usage, with its data showing that thieves are benefiting from £146 million worth of stolen bicycles per year.

While 89 per cent of bikes stolen last year had been left locked-up in a public place, ten per cent were left unlocked in public places and one per cent were stolen from the victim's property.

The insurer advises that cyclists check that their home insurance policy covers the theft of their bike in a public place.

Vicky Emmott of Halifax Home Insurance said: "The increase in thefts is due to an upsurge in the popularity of cycling across Britain. With increasing numbers of employers taking up initiatives such as the government's cycle to work scheme, opportunities for thieves will only increase."

Latest crime figures showed an eight per cent rise in robberies between October and December 2006 compared to the previous year, but a two per cent drop in crime overall.

Insurances Limited “Cycle cover for Home Insurance is often overlooked, children’s bikes tend to be very expensive nowadays, you often need to specify the bike on your Insurance Policy.”

Paying for the Floods

The floods that damaged so many areas during the summer are now forcing up home insurance premiums. These have risen on average 3% since June.

The cost of repairing and drying out homes is now being passed on to policyholders.

Although many insurance companies are still willing to quote for home insurance to those in flood areas they are around 30% higher than usual.

Policy holders who have already bean flooded will have problems as they will find their cover reduced, fewer companies willing to insure them and premiums could be as much as doubled plus excesses are likely to rise for high-risk homes.

Those flooded who had no insurance are now seeing the benefits and in some areas requests for quotes increased by 17-fold.

Home Insurance Cover

Pay for 9 months and receive 12 months home insurance cover from Sainsbury’s this offer is for those buying building and contents policies together online until the 27th November.

© See Terms and Conditions