Could using Facebook increase your insurance premiums?
Home insurance providers could start hiking premiums for users of social networking sites such as Facebook and Twitter.
Price comparison site Confused.com issued the warning after it revealed that users of social media websites make themselves vulnerable to thieves by posting information about their location online.
Potential criminals could use information posted on Twitter, Facebook or MySpace to know when a person is away from home, Confused.com said.
They could also use the social media sites to discover users’ addresses.
“I wouldn’t be surprised that as social media grows in popularity and more location-based applications come to fore, insurance providers consider these in their pricing of an individual’s risk,” said Darren Black, Confused.com head of home insurance.
“Criminals are becoming increasingly sophisticated in their information gathering even using Google earth and street view to plan their burglaries with military precision,” he added.
“Insurance providers are starting to take this into account when they are assessing claims and we may in future see insurers declining claims if they believe the customer was negligent.”
Category: Home Insurance News, Insurance News
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