Insurers could save £800 on each subsidence claim with a new system developed by Lloyds TSB and loss adjuster Crawford & Co.
The Electro-Level Monitoring System uses a device that is put on the outside of a building at ground level. It monitors fine movement and sends radio signals that connect to a data logger inside the house. The data logger is then plugged into a phone line and the information downloaded onto a website in 15-20 minutes.
Crawford national building services manager Robert Sharpe said homeowners could have an active involvement in monitoring their properties when using this system. He said a pilot project has been running for a month and that early feedback has been very good.
"The pilot will run for another couple of months and then we can possibly offer it to other loss adjusters.
"With this system, we could cut out three-quarters of site visits and save £700 to £800 a claim," he said.
The Electro-Level Monitoring system was used in the construction of the Jubilee Line Extension and Crawford is adapting it for an everyday environment. The loss adjuster acts in 50% of Lloyds TSB's claims and for this reason, they are piloting the project together.
"Lloyds TSB is very keen for us to try new things," said Sharpe.