Home improvers unaware of insurance implications

by Gill Montia

Story link: Home improvers unaware of insurance implications

According to recent research by Saga Home Insurance, large numbers of UK homeowners invest in major improvements to their property every five years.

However, two in three people surveyed were not aware that their buildings insurance provider may need advanced notification of any major work plans and that limitations may be placed on cover whilst the work is being carried out.

For example, it is standard for items such as unassembled kitchen units, uninstalled bathroom suites and unfixed building materials to be excluded from a policy.

In addition, anyone undertaking the work themselves should make sure they have full accidental damage cover added to their buildings insurance.

In its survey, Saga found that almost one third of respondents were motivated by fashion trends, with 31% undertaking home improvements that were not regarded as essential but rather for cosmetic purposes.

The results also confirmed that the over 50 age group is more likely to invest in improvements that will last for some time: 23% of this age group expect to replace improvement within 5 years.

However, 41% of those aged under 50 saw their improvement as having only a five-year life span.

Bedrooms and bathrooms were the room most likely to be improved, with 39% of respondents having undertaken improvement work on these areas in the last three years.

Some regional variations came to light, as 42% of respondents living in Scotland were more likely to spend money on the kitchen, before revamping the bathroom (37%).