Gocompare.com warns homeowners that major works could invalidate their home insurance
- 43% of homeowners have carried out major work on their properties in the last 5 years;
- Updating bathrooms and kitchens, investing in energy efficient measures including new central heating systems, top the list of improvements;
- 41% of homeowners who have carried out major work on their property haven’t informed their insurer of the changes they have made.
A new bathroom is the UK’s most popular home renovation, according to a new study from GoCompare Home Insurance*.
The research that nearly two in five (39%) homeowners who carried out a major home improvement in the last five years splashed out on a new bathroom. The other most popular renovations were new kitchens (38%) and a new boiler or central heating system (34%).
Top 10 home improvements carried out in the last 5 years
|1||Installed a new bathroom||39%|
|2||Fitted a new kitchen||38%|
|3||Installed a new boiler or central heating system||34%|
|4||A garden make-over||26%|
|5||Installed double glazing||26%|
|6||Built an extension||17%|
|7||Knocked through rooms||12%|
|8||Fitted solar panels||12%|
|9||Created an attic conversion||10%|
|10||Added an extra bedroom||9%|
However, the study also revealed that 41% of those carrying out renovations did so without telling their home insurer, potentially invalidating their policy.
Matt Sanders, home insurance spokesperson for GoCompare explained, “While you don’t need to inform your insurer about routine decorating or maintenance, you should inform your provider if you’re planning on carrying out any major building or renovation work, otherwise you could risk invalidating your policy.
“When planning a major renovation project, one of the first things you should do is to review your buildings and contents insurance to make sure that you have adequate cover both during and after the work has been completed.
Matt Sanders added, “Another important thing to note is that most home insurance policies don’t cover tradesmen or their work, so you should always check that they have their own insurance in place. It’s also sensible to check that any tradesmen you employ are qualified to carry out the work and registered with a recognised governing body.”
Matt Sanders “Remember, after completion of the work, you may need to increase your sum insured to reflect any increase in the rebuilding costs of your property and any increase in the value of your possessions.”
For more information on home improvement and home insurance visit GoCompare's dedicated guide page.
Notes to editors:
*On 27 March 2017, Bilendi conducted an online survey among 2001 randomly selected British adults who are Maximiles UK panelists (1,275 were homeowners). The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.