Social networking sites could affect home insurance

Having adequate home insurance in place is vital for those that want to protect their home and their belongings, but there are a number of things that can affect the cost of insurance premiums as well as the validity of the insurance policy.

According to a recent report the hugely popular variety of social networking sites is one of the things that could affect the cost of insurance premiums or the validity of a claim made on existing cover.

Over the past couple of years social networking sites, such as Facebook, have become incredibly popular in the UK as well as in other parts of the world, and these sites are used by young and old alike for a range of purposes from sharing photos and stories to keeping in touch with friends and family and locating old friends.

However, it has become evident that many people do not think twice about putting a range of personal information on these sites, despite the fact that millions of people may be able to view the information that they are putting on.

Insurance industry groups have said that a rising number of thieves and burglars are logging onto social networking sites to see what people are putting on about going on holiday and leaving their homes unattended. One insurance company claims that 40 percent of Facebook users posted details of when they would be away last year, and around 25 percent of these were for public viewing.

Another issue that has been highlighted when it comes to social networking sites and the effect on insurance is teens putting details about parties or events on the sites. This can lead to droves of complete strangers turning up and potentially causing damage to the property.