- Ten million UK homeowners are unaware that DIY or home renovations can invalidate their insurance if they fail to notify their provider first
- A third (37%) have performed home improvement jobs in the past month, and a further fifth (17%) are expected to carry out renovations over the bank holiday weekend
- Despite this, almost half (47%) admit to never checking their insurance policy for exclusions on their cover before the work is carried out
- Six in 10 (59%) of UK homeowners are unaware that an insurer may refuse to pay out on a botched job if it wasn’t previously highlighted
- uSwitch.com calls for homeowners to check their policy documents before carrying out any home improvements over the bank holiday weekend.
As the nation plans to tackle DIY and home improvements this Bank Holiday weekend, millions of homeowners are at risk of invalidating their insurance and could leave them vulnerable should a DIY disaster strike.
A third (37%) of homeowners have performed DIY and home improvements in the past month, but the majority (60%) are unaware that a botched job may not be covered by their home insurance provider.
Worryingly, almost half (47%) admit to never checking their insurance policy for exclusions on their cover before the work is carried out.
With three in five homeowners feeling that moving to a new house has become more difficult over the past 10 years, a growing number are turning to home renovations to increase the value of their property.
And while some homeowners check their policy ahead of renovating their home, three in 10 (30%) of those who check their policy still fail to notify their insurance provider, meaning they may not be compensated in the event of something going wrong.
A further three fifths (60%) are unaware that accidental damage cover is often required in addition to home insurance to cover DIY blunders, such as drilling through a water pipe, incorrectly plumbing an appliance or fixing faulty electrics.
The most popular reasons for DIY and home improvements include refreshing the home (59%), upgrading the electrical and plumbing systems (34%) and adding value to the property (29%)
With one in five (17%) of homeowners planning to make DIY or home improvements this Bank Holiday weekend, uSwitch.com urges them to check exclusions on their home insurance cover before carrying out the work.
Rod Jones, insurance expert at uSwitch.com, says: “It’s a British tradition to use the Bank Holiday for a spot of DIY. And while it’s a great feeling when you’ve done up your own home, the worrying truth is that very few people realise that you may not be covered if the job doesn’t go according to plan.
“It’s a good idea for any DIY enthusiast to double check with their insurer prior to beginning the improvement work around their home, as failing to notify a provider before the work is carried out may invalidate your home insurance policy. It’s also worth considering whether you need accidental damage cover to add an extra level of protection, as this is sometimes required on top of your standard home insurance policy.
“If in doubt, always speak to your insurance provider for guidance on what is and isn’t covered in your policy. Although it’s often an oversight to do so, double checking your cover could save you plenty of time and money in the long run.”
Find out how you could save over £1,000 a year with uSwitch here.