Lloyds TSB Insurance Reports Rogue Traders On The Rise

London, United Kingdom (PressExposure) May 27, 2009 -- 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 [http://www.insurance.lloydstsb.com/personal/home/homeinsurance/homeinsurance.asp] 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 [http://www.insurance.lloydstsb.com/] 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."

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+)

PR Contact: Amanda Glover Media Relations Manager Lloyds TSB Press Office 25 Gresham Street London EC2V 7HN 020 7356 2021 http://www.lloydstsb.com

About Lloyds TSB Insurance

Lloyds TSB offers customers a wide range of current accounts, savings accounts, travel and homeowners insurance [http://www.insurance.lloydstsb.com/personal/home/homeinsurance/homeinsurance.asp], home contents insurance [http://www.insurance.lloydstsb.com/personal.asp], 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.

Press Release Source: http://PressExposure.com/PR/Lloyds_TSB_Insurance.html

Press Release Submitted On: May 27, 2009 at 5:08 am
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