Results from a study have indicated that parents should make sure that they have sufficient house and contents insurance to cover the summer school holidays. The study, conducted by Sheilas Wheels home insurance has indicated that children cause a staggering £0.5billion worth of damage to British homes a year.

Furthermore, the study found that a quarter of children damaged, or broken a piece of electrical equipment in the home and this causing parents to spending a approximately £550million per year to get the items repaired or replace those beyond repair.

On average, children cause roughly £190 in damages to electrical items like computers, games consoles and digital cameras and that a fifth of the nations parents are forced to make a claim on their home and contents insurance for the damage their children cause

A leading spokeswomen for the insurers home insurance department explained that school holidays are the most common time for children to break items and cause claims as it is the period where they are at home the most or have access to the electrical goods and that this can lead to potentially hundreds and hundred of pounds of damage to the home equipment.

It has recently been reported that too many homes in the UK are with contents insurance with their house insurance. A report carried out by price comparison site Confused.com found that 25% of houses in the UK don’t even have contents insurance!

This is a worryingly high figure especially as the British economy has a lot of disposable income and is one where we like to splash out on expensive items. The average British household commonly have TV’s worth over £500, gaming consoles worth over £300, laptops and PC’s worth over £1500, not to mention other music and home entertainment systems, musical instruments and jewellery worth over £15,000!

To cover items totalling to the region of £40k, a relatively small £45 is needed (on average), making it well worth your while. However, some deals are better than others in what they offer and the price, so it is still worth comparing prices on the market to get the most out of your money.

With contents insurance, the problem comes because it is not actually the law, so people think it is a good way to safe some money each month. However, in the long run it could well be the least financially option to take.

As well as the house insurance with contents, a bit of common sense should be used with things like locking your door and your windows and no sign of expensive items should be left in view from the outside, i.e. shut curtains, don’t leave packaging of expensive items outside.

Sainsbury’s are giving the public a chance to get discounted house insurance for one day only, providing both contents and building cover are bought together.

The deal is 12 months insurance for the price of just 9 and the deal is happening between the 25th and the 26th May, but must buy the aforementioned together. As well as this, if bought online, a further saving of 10% can be knocked off the price. There is also a no-claims discount which can go up to 30%, as well as the bonus of accidental damage cover being included.

Neil Lard, Sainsbury’s house insurance manager, says it is important for customers to shop around the market and see what offers are available and said on the matter: “Quality cover such as unlimited buildings insurance doesn’t have to be expensive and although premiums have been rising, by shopping around and taking advantage of discounts such as ours, there are significant savings to be made.”

With this advice in mind, it might be a wise idea to check the comparison site AsRecommended. They differ from price comparison sites because they show you offers, as opposed to actual comparisons on policy offers.

House insurance is being offered to people on the books of the housing association. These occupants currently face financial exclusion to a lot of options, but Zurich want to help this.

The contents system for residents will be offered to the housing associations and local authorities themselves, though out the whole of the United Kingdom.

Through this product, it is hoped lodgers will be able to take on contents insurance more easily. The main problem at the moment is that many residents of the housing association do not pick the appropriate house insurance for their home, as they find it hard to meet monthly or annual payments. Zurich can make sure and provide the correct amount of cover, as their premiums will be worked out using data for the number of bedrooms in a property, and will include an option for cash payment on a weekly basis.

Due to the fact Landlords traditionally only insure the buildings themselves, residents will not be required to calculate an overall value for their home contents, which in turn means they will not uninsured themselves.

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