Lloyds TSB Insurance reports rogue traders on the rise
Released
on: May 27, 2009, 4:08 am
Author: Lloyds TSB
Insurance
Industry: Financial
Lloyds
TSB Insurance has revealed that more than 4.6 million 'botch'
home jobs have been reported in the past 12 months, as a growing
army of unqualified traders target unsuspecting homeowners.
New
research from Lloyds
Home Insurance reveals that one in 10 Brits has been forced
to correct sub standard work in the last 12 month - a 16 per cent
increase on last year - costing an average of £460 to put
right.
The
rash of 'rogue' trading is being fuelled by a tougher economic
climate, as unqualified workers seek out 'cash in hand' maintenance
work and homeowners look for the lowest possible price.
With
nearly a third (32 per cent) of victims admitting that they made
no checks at all on workers’ qualifications, the insurer
is urging homeowners to confirm traders' full credentials and
avoid the false economy of unqualified labour.
The
research shows that Britons view the initial quote they get as
the full amount they will eventually pay, without considering
any additional costs should the job need correcting. Unhappy customers
were forced to pay an average of £1,250 to amend botched
conservatories, £840 to correct building work and £640
on roofing.
Those
aged 45 - 54 are the worst affected, paying an average of £900
to correct the botch jobs done to their property, with West Midlands
residents most affected (20 per cent), followed by those in the
East of England (12 per cent).
Commenting
on the research, Lloyds
TSB Insurance Managing Director, Phil Loney said: "Rogue
traders are on the increase and costing unsuspecting homeowners
thousands. To help the public feel more confident about employing
traders, we’ve produced a comprehensive guide to 'rooting
out the rogues' which is available on the Lloyds TSB Insurance
website."
Notes to Editors:
Research was commissioned by Lloyds TSB Insurance plc and conducted
by YouGov in April 2009.
All
figures, unless otherwise stated, are from YouGov Plc. Total online
survey sample size was 2,404 adults. Fieldwork was undertaken
in April 2009. The figures have been weighted and are representative
of all GB adults (aged 18+)
About
Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts,
savings accounts, travel and homeowners
insurance, home
contents insurance, personal loans and credit cards, investment
and cash ISA accounts designed to meet different customers' needs.
Lloyds
TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated
by the Financial Services Authority and signatories to the Banking
Codes.
Lloyds
TSB Bank plc Registered Office: 25 Gresham Street, London EC2V
7HN.
Registered in England and Wales no. 2065.
PR
Contact:
Amanda Glover
Media Relations Manager
Lloyds TSB Press Office
25 Gresham Street
London
EC2V 7HN
020 7356 2021
www.lloydstsb.com
2012
