Got The Builders In? Make Sure You Don’t Invalidate Your Home Insurance}

Got the Builders In? Make Sure You Don’t Invalidate Your Home Insurance

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MarkeD-11606

If youre about to have any building work carried out on your property, be extra careful not to accidentally invalidate your home insurance in the process.

The best way to avoid this happening is to notify your home insurance provider of any planned onsite works and ask them whether you need to increase your buildings and contents cover for the duration.Additionally, if the works involve an extension to the property, a permanent upgrade to the buildings insurance will be required to cover the extra floorspace and value.Reasons to keep your home insurance company updated:Structural ChangesIf an extension or modification involves works to a load-bearing wall, this could mean an increased risk to the property and to the people inside. Failure to inform the insurer of any structural changes could invalidate any future claims, and the cost of making good could fall to the homeowner.To illustrate just how common an oversight this is, a recent survey by Halifax found that 1% of homeowners who had removed an internal wall in the previous five years failed to notify their provider.Home SecurityIf external walls, windows or doors are removed during any building works, your home will obviously be more vulnerable to burglary. Therefore, it’s important to contact your home insurance provider to find out whether youll still be covered during this period. Different insurers may have different rules in this regard, so you may have short-term restrictions placed on your cover or your premiums may temporarily rise.Also, if an extension features new doorways and windows, you should provide your home insurance company with details of the increased accessibility, plus particulars of the types of locks, security measures in place etc.Additional CoverWhether youve extended the kitchen, built a conservatory or added a whole new wing to your home, dont forget to upgrade your buildings insurance to cover the increased rebuild cost. If youre unsure of the cost, get a quote from a surveyor or gauge a rough idea by using a rebuild calculator [change link destination once our own calculator is up and running]. Increasing buildings cover is vital because in the event of any claim the insurance company will only pay out on the part of your house that is actually covered.Basically, its in a homeowners interest to make sure their property remains adequately covered during and after any home improvements its the best way to avoid being lumbered with a hefty bill should property damage or a break-in occur.One last thing&Its not just your insurance you need to check, if youre getting builders in to do the work, check that they have adequate public liability insurance. This will cover accidental damage that builders may cause to your home, your neighbours property or the street outside. You can find cheap home insurance deals at confused.com

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Got the Builders In? Make Sure You Don’t Invalidate Your Home Insurance}