Prestige highlights claims inflation in household fires

Prestige Underwriting says the cost of the average fire-related home insurance claim has almost quadrupled from £6,583 in 2007 to hit £24,000. In part, it attributed the rise to the increasing prevalence of lithium batteries, which are used in e-bikes and e-scooters. Prestige said the rise in claims cost came despite a 63% reduction in UK domestic fires since 2007.

Alison Williams, managing director at Prestige Underwriting said: “We urge manufacturers to work with insurers to help consumers, and for us to work together to implement preventive measures as well as ensure the safety of these widely used devices.”

In a bid to improve consumer understanding about the risks that lithium batteries pose, Prestige has produced a consumer guide on the subject.

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