Damage to property caused by young children could be placing many homeowners under financial strain, new research indicates.

According to a study conducted by Halifax Home Insurance, toddlers have caused a total of some 122 million pounds worth of breakages in their parents’ homes during the past 12 months. With the typical accidental damage claim reaching 529 pounds 68p, the financial services firm suggested that consumers who do not have the right level of insurance, or indeed are without cover at all, could well face “a significant financial outlay” to repair or replace items. For these people such expenses may impact upon their capacity to meet other demands on their finances, for example loans, household bills and mortgage payments. Money management difficulties could be even more pronounced for some parents, as the worst-affected properties over the course of 2007 have suffered 10,000 pounds of damage.

Findings from Halifax showed that spillages of food, juice and paint on to floors and carpets are the most common cause of damage to property. Such harm was estimated to have affected just over two-thirds (68 per cent) of consumers. Meanwhile, 65 per cent of those surveyed have seen their walls and paintwork damaged or tarnished by graffiti. An estimated 26 per cent have had their furniture spoiled, while the same number have had ornaments broken. Some three per cent of parents have also faced a broken window. However, those looking to get such a feature replaced quickly may wish to consider taking out a home loan.

Overall, boys are some 20 per cent more likely to wreck a home than girls. In addition, research from the financial services firm reported that 29 per cent of mums and dads have had a mobile phone damaged by a toddler. Meanwhile, as the typical laptop computer costs about 700 pounds, the three per cent of respondents who have such equipment damaged could well be left with “hefty bills for repairs or replacement of equipment”.

Martyn Foulds, senior claims manager for Halifax Home Insurance, said: “Toddlers are naturally inquisitive, full of energy and eager to explore the world around them, keeping up with them can be a full-time job in itself. Raising children is expensive enough without having to find additional money to replace items that small children have accidentally damaged. Parents can protect themselves from the costs of home repairs and damaged contents by ensuring their home insurance includes accidental damage cover.”

Consumers looking to make amends for the damage done to their property by young children might wish to consider applying for a homeowner loan to meet the costs of such work. In addition, taking out such a loan might also provide homeowners with enough disposable income to purchase an adequate home insurance policy. A homeowner loan can also be a useful way to fund the cost of insulating a property. Earlier this year, Andrew Leech, technical consultant for the National Home Improvement Council, reported that the winter months are an ideal time for people to get lofts and walls insulated, as it could help them to save money which otherwise would have been spent on heating bills.

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