Britain is a nation of property nuts and when it comes to home improvements we spend an absolute fortune.
Recent figures from SAGA show that just over one in three homeowners splash out an average of £2,000 every year on changing their properties. As the price of buying a bigger and better property goes up, and to avoid the hassle and costs that go with moving, the mantra of many has become ‘Improve, don’t move’.
However, what plenty of property owners don’t realise is that they could be invalidating their Home Insurance by making improvements.
If major building work such as converting a loft into an extra bedroom or erecting a conservatory isn’t carried out correctly, following all the relevant permissions and regulations, or the insurer isn’t informed so that policy terms can be amended accordingly, then your cover may become null and void.
As the buildings element of a Home Insurance policy is based on a property at the point the insurance is taken out, it stands to reason that a change to the structure means that any existing cover may no longer apply.