Many householders in the UK are now deciding to improve their existing home rather than move due to the uncertain housing market and stricter mortgage lending.If you are building a house extension, loft conversions, converting your garage or just knocking a wall though to combine two rooms, you could be invaliding your current insurance in the process.
When building works are being carried out within your home, the need to get the work completed as quick as possible and returning to normality leaves some people in fact according to MoneySupermarket more than a quarter (26%) of us neglect to update our insurance. Up to 21% said they didn’t think it was necessary to tell their insurer of any changes in the first place and 3% would not tell the insurer because they simply could not be bothered to inform them.
If you are renewing your home insurance the most cost effective way is the compare your quotes on sites like moneysupermarket.com and combing your buildings and contents cover could reduce your premium.
If your are having work carried out it may be an ideal opportunity to upgrade your home’s security in which case you should tell your insurers as this could reduce your premium and keep thieves away.
Avoid the Cowboy Builders
Legal cover is an optional home insurance extra which pays for legal cost in-case you come across any rogue traders. If a cowboy builder left your job half finished or disappeared all together your home insurance would not cover you unless you have legal cover included. You may be offered cheaper quotes to pay in cash to a builder but remember you will have no paper trail to the work if any problems occur at a later date.
Always go with a recommended company and check out their credentials and ratings. Make sure they are part of trade organisation like the Federation of Master Builders (FMB) www.fmb.org.uk , Fairtrades www.fairtrades.co.uk or even ask the company if you can view any of their previous work.