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Parents warned over home insurance
19 August 2008
With many students expected to celebrate their exam results in the coming week with house parties, parents are being urged to check their home insurance policy.
Parents are being asked to investigate whether their home insurance policy has accidental damage coverage as this will help during a party but it will not protect against malicious damage, claims Fairinvestment.co.uk.
Rachael Stiles, Fairinvestment.co.uk spokesperson, said: "If, for example your child's party gets out of hand and your property and its contents are damaged, there are no guarantees that the insurance will pay out."
According to Ms Styles, it is the responsibility of the home insurance policy holder to take reasonable care to prevent damage to their property.
"Monitoring guests at your child's party may make you look over protective but it could save you money should accidental or malicious damage occur," she added.
Moneysupermarket.com reported that 40 per cent of property owners in the UK did not have home insurance.
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