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GBP10 million worth of quake home insurance claims

Fri, 07 Mar 2008

Last week's earthquake could result in 3,250 home insurance claims, one industry body has said.

According to Sainsbury's Bank, the total cost of home insurance claims related to the tremor could run in to tens of millions of pounds.

However, it adds that as one in 20 households lack buildings insurance, some homeowners will have to foot the bill themselves.

Neil Laird, Sainsbury's home insurance manager, said: "The recent earthquake just shows that you can never tell when exceptional circumstances may occur and you might need to make a claim . Unlimited buildings cover ensures peace of mind that you won't be left underinsured should the unthinkable happen."

On Friday the Association of British Insurers said that the majority of home insurance policies will cover any damage caused by the earthquake.

It also said that most home insurance providers will cover the cost of alternative accommodation during the repairs if needed.
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