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Cold snap costs Brits £1.6bn

By Marianne Straker, Tue 21 Feb 2012 - Published in Home Insurance

The recent big freeze that engulfed the UK over the past month has cost British homeowners £1.6 billion.

Research by Moneysupermarket.com found that home insurance claims and heating bills soared as February experienced snow, ice and sub-zero temperatures.

The price comparison site revealed that a third of Brits were worrying about being able to afford their rising utility costs.

On average, property owners were paying an extra £77 on their energy bills as 81 per cent of people turned up the heating as the temperatures plummeted.

There have been calls for the government to reduce the VAT rate on heating costs with bosses at uSwitch saying that people could save £60 each on their payments if the rate was reduced.

Scott Byrom, energy manager at Moneysupermarket.com said: "For those who are really concerned about being able to pay their next quarterly bill as a result of the 'Big Freeze', it's crucial they speak to their provider about the assistance and social tariffs on offer."