Home insurance quotes with subsidence history increase by 299%, research reveals
Home insurance quotes with a history of subsidence claims have risen by 299% within the space of nine years, a new report by Go.Compare Home Insurance has revealed.
The comparison site reviewed the number of home insurance quotes with previous subsidence claims it received during the second halves of 2013 and 2022, and found that the figure has dramatically increased.
The number rose by an average of 85% per year during this time, including a 72% increase since 2017, suggesting a surge in subsidence claims over the last decade.
This follows a year of record-breaking temperatures in the UK, with warmer weather being a major cause of subsidence.
However, data from the last couple of years provides some optimism, as figures from 2021 and 2022 indicate that growth may be slowing.
The number grew by just 3% from 2021, well below the 85% average for the last nine years.
Ceri McMillan, a home insurance expert at Go.Compare, said: “Our latest data seems to indicate that the UK has experienced a substantial subsidence surge over the past decade or so.
“While figures from the last couple of years suggest this might be slowing, you should still monitor your property for signs of subsidence, as the warmer summer temperatures will inevitably bring a spike in cases.”
McMillan added: “There are also several things you can do to prevent the chances of subsidence happening to your property.
“Try to maintain your home’s drains and keep on top of any vegetation that’s close to the property, as these can both cause subsidence if not properly managed.
“If you think your home has a subsidence issue, reach out to your insurer, as they will put you in touch with the appropriate contacts.”