A new study has shown that many home insurance providers have increased the level of excess on policies over the past year.
Research conducted by Defaqto reveals that over the last 12 months, many home insurance providers have raised excesses in a move to reduce the number of claims being made and control potential risk.
Figures reveal that the number of companies applying a £100 excess to new customers has increased by seven per cent in the last year, with some insisting on a £200 excess for many new policy holders.
"Consumers who purchase home insurance and are not aware of the excess could be in for a nasty surprise when they have to make a claim," explained Mike Powell, principal consultant for general insurance at Defaqto.
home insurance provider Halifax recently stressed that homeowners should not be tempted to reduce home security by leaving doors and windows open during the warmer months of the year.
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