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Check your home insurance before doing diy this bank holiday
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Many practical types will be look forward to acquiring stuck into a bit of DIY over the bank vacation; however, Zurich is warning homeowners to make sure they are insured person in the event of botch ups.
According to the company, ambitious homeowners end up paying out more than £1.5one million million collectively each year in order to fix DIY catastrophe. Zurich found that 16 per cent of homeowners who have tried DIY have been forced to get exterior help to fix their error.
More than a third of those requiring professional help were attempting their own home improvements in order to save themselves money. But inexperience often leads to a call for professional person help, which costs £280 on norm.
Home insurance is another area where homeowners are not pickings enough care according to Zurich. Its research shows that 47 per cent of home improvers fail to tell their insurance provider of major DIY works being carried out and 73 per cent do not know whether their home insurance policy would cover DIY error they or their spouse might make.
The bulk (87 per cent) would do DIY without even checking whether they were covered, either for the work or any harm caused earlier they got started. And 17 per cent do not have accidental damage cover.
Technical underwriting director, Steve Gb, said: "Doing it yourself can be a great accomplishment but we would like to remind all DIY novitiate that they can often endanger themselves and their place, so if you are unsure, always call in a professional person.
"It's a good idea to call your insurance company to check that you are covered in the event of DIY going wrong, and surely to make sure that any structural changes won't void your policy."
Meanwhile, confederation and leicestershire claim the surge in popularity for DIY comes from increased coverage of home improvements on the television. It found that 73 per cent of DIY enthusiasts were inspired by television programmes and that, while redecoration topped the list of home improvements, more complicated work was also proving popular.
The bank also found that the average cost of improving homes in the UK is £11,833. It is offering loans to those considering making changes to a property, which, if successful, could help to improve the value of their home.
Head of personal loans at Alliance and Leicester, Richard Al-Dabbagh, said:
"While redecorating rooms is a quite an easy and inexpensive home improvement, it is in fact loft conversions and new kitchens that can add the most value to a property.
"Homeowners who are looking to make these higher cost changes might consider taking out a personal loan to fund such improvements, but it is essential that they shop around for the best deal to suit them to make the most of their investment."
© Fair Investment Company Ltd
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