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TCF Household
Home insurance
claims pose high levels of potential fraud and exaggeration risk to
insurers. A vast majority of households in the UK have buildings and
contents insurance cover and for many years it has become seen and even
accepted, as a cheap way to upgrade home furnishings and fittings,
electrical goods and high-tech gadgetry associated with the home e.g.
computers etc. This is now exacerbated with the pace of change in
today’s consumerist world, be that design fads, styles and product
improvements, and therefore more and more policyholders are tempted to
replace or upgrade their home and belongings by making up or
exaggerating a claim.
From the work
undertaken by TCF the specific household items at most risk of fraud
continue to be; accidental damage to televisions, computers, laptops,
carpets, and personal MP3/4 players, followed by accidental damage to
sanitary ware and furniture and items stolen as a result of burglary.
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