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Newsletter

Homeowners 'must inform insurer before making structural changes'

By Marianne Straker, Wed 11 Jun 2008 - Published in Home Insurance

Homeowners who are planning to make improvements to their current homes rather than moving, as a result of the slower property market, are being advised to make sure they inform their insurer about any work they intend to do.

Research by Sainsbury's Home Insurance has revealed that a fifth of British homeowners plan to undertake major structural changes to their properties in the next 12 months, with the average amount people anticipate spending standing at £17,361.

Of those questioned, 33 per cent were unaware that they had to inform their home buildings insurer before they started any structural work.

Neil Laird from Sainsbury's Finance said: "As buildings insurance premiums are calculated based on the type of house, for example the number of bedrooms it has, creating extra rooms can have an impact on your premium even if you have unlimited cover."

Meanwhile, Tescocompare has advised homeowners to compare insurance deals before making a decision. It states that not switching home insurance cost Brits £26 million last year.