As the lockdown ensured all but essential workers were essentially housebound, Brits began to turn their attention to DIY – presumably deciding that if they were going to spend more time indoors, then those homes should be as pleasant as possible.
In fact, according to a new study from Aviva, 85 per cent of UK adults have undertaken home improvements during lockdown. This includes everything from decluttering to gardening to bigger projects that require some serious remodelling.
But while cosmetic DIY like painting or putting up shelves has no impact on insurance, more extensive updates do. Failure to declare such work could risk invalidating an existing home insurance policy.
As tradespeople and builders are allowed back to work in people’s homes, those larger planned projects are now starting up. It’s essential property owners inform their insurer before they begin any major projects like extensions or loft conversions. Otherwise, if they come to claim they might find their insurer won’t pay out.
The biggest risks to home insurance. Policies vary from provider to provider so read your small print so you can clearly understand what is within your own and what puts it at risk.
Aviva advises always telling a home insurer before renovating or altering a property. That allows them to decide whether they can provide cover both during the work and afterwards, when the property will be different to the home they insured.
If your home insurer is happy to continue cover during building work, then make sure you know what that cover includes.
Did you buy a lockdown hot tub or spent money on other equipment?
Even if you have not used lockdown to undertake a major project, it is still a good idea to reassess a home contents policy if you have spent money making a home more enjoyable during lockdown.
There have been spikes in sales of gaming equipment and electronics, while the closure of gyms means many more people invested in home exercise equipment and bikes.
With few people hoping to jet off to some sun, there has also been a boom in sales of garden equipment like trampolines, hot tubs and paddling pools.
Simon Stanney, General Insurance Director at SunLife, recommends homeowners take a moment to check they are covered for any new purchases under their contents policy. “Insuring your home and its contents for the right amount is crucial to guarantee any claim you make will be paid in full,” he says.
“Because if you make a claim for a certain amount and your insurer discovers you’ve said your possessions are worth less than their true value – even if you have done this accidentally – you will receive less money or may not get a pay-out at all.
“So if you have bought a new bike, new garden furniture or upgraded your home tech, make sure you ask your insurer to confirm that your policy provides sufficient cover for your needs.”
Andy Patikis Oncover Insurance
