Ensure You Insure
September 24, 2010
In these times of housing market stagnation the trend is now to improve rather than move to achieve that dream home, thus making the most of what we have and of course adding value to our properties. One of our first tasks is probably going to be rushing off to the nearest kitchen showroom or arranging a meeting with a builder or architect. We will be consumed by the thrill of our project and the prospect of a beautiful home and will no doubt be excited about its future value (see also What Could my property be Worth?). But how many of us at any point in proceedings will have actually considered insurance? Whether it's cover for major building works or the value of additional contents in the new extension, insurance is probably one of the first things we should be thinking about.
Did you know that the average British household has upward of £45,000 worth of contents, with living rooms and master bedrooms containing the most value? And don't forget that outside space too. Many of us will have items of furniture and ornaments in our gardens and our sheds could contain nearly £1000 worth of property - anything from tools, mowers and even bikes. Apparently a client of one insurance company had around £30,000 worth of shed contents!
It's therefore essential when making decisions on your policy that you don't just compare annual premiums, but also the level of cover provided and the sum insured. Not informing your provider of any structural or high-risk electrical work (in kitchens for example) could result in an invalidated policy. And research indicates that less than half of us have accidental damage cover included on our policies, something to bear in mind particularly if you intend to do the work yourself.
For more information and price comparisons on home insurance just click the link to moneysupermarket.com in our Who Can Help directory.
To find a company who may assist you further, simply click on the free links located on the right hand side of the page.
Comment on This Article:
All HTML, except <i>, <b>, <u> will require your comment to be moderated before it is publicly displayed.
If you would like your own avatar displayed, read about comment avatars.
Reader Comments
Skip to form
There are currently no comments about this article.