You are here: Home - Insurance - News -

May bank holiday DIY plans? One in seven renovations go wrong

0
Written by: Christina Hoghton
04/05/2018
Mishaps frequently occur during attempts at DIY, so ensure you are adequately covered by your home insurance.

One in seven (14%) UK adults have faced a home improvement mishap within the last three years, according to research from Sainsbury’s Bank Home Insurance.

The most common problem is flooring being damaged by tools, equipment, or spilled paint, which happened to 5% of DIYers, followed by damage to internal walls and electrical damage, both of which affected 3% of home improvers.

Damage to pipes was also widely reported.

Check your cover

With the May bank holiday a popular time for DIY enthusiasts, the bank is urging homeowners to make sure they are not leaving themselves uninsured when it comes to making improvements to their homes.

It’s important to make sure you have good quality home insurance in place that covers accidental damage as mishaps can happen.

Crucially, if you’re undertaking major works, for example, building an extension, changing your windows or converting your loft, you must make sure your tradesmen are fully insured, and it’s important to let your insurer know of any planned activity in advance.

Once the work is complete you should alert your insurer, as new rooms etc will have a bearing on your buildings cover and you’ll want to make sure you’ve also adjusted your contents cover if you’ve added new furnishings or TVs, for instance.

The research findings show that of those who have undertaken renovation work at their property in the last three years just a fifth notified their insurer, and 7% only did so once the work was complete.

Karen Hogg, head of insurance at Sainsbury’s Bank, said:  “We’re a nation of DIY lovers and many of us will be planning some home or garden work over the coming weeks.

“Our research shows that just under a quarter of people undertaking work had notified their insurer, which may lead to them being uninsured.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Seven ways to get help with energy bills this winter

We knew today’s announcement was going to be painful, but it’s still a shock to the system. When this kick...

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week