People pay out 7m per year due to 'cowboy' traders, claims Sainbury's

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People pay out 7m per year due to 'cowboy' traders, claims Sainbury's

Sainsbury's Home Insurance has claimed that botched jobs from 'cowboy' traders have affected 6.2 million people over the last five years.

The work meant people spent nearly £3.7 billion in that time, amounting to £737 million each year, with only 36 per cent of people asking for multiple quotes before the work was carried out and 31 per cent asking for a formal written quote.

Ben Tyte, head of home insurance at Sainsbury's, said he was "concerned" by the figures and that it was "completely unacceptable" that remedial costs were in excess of £700 million per annum

"It's understandable that people want to cut back on costs but where work to the home is concerned it's just not worth the risk. It's simply false economy," he said.

Mr Tyte added that Sainsbury's Home Insurance provides customers with a 24-hour home emergency advice service as part of their cover.

Meanwhile, in research from Halifax's Home Insurance team on household spending habits, the policy provider stated that tighter budgets are forcing people to cut costs and look for cheaper means of maintaining a household.

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