Home improvers neglect insurance
03 August 2004
With over nine million households planning home improvements this year, Bradford & Bingley is urging people not to be complacent with their insurance.
The insurer is emphasising that people should carefully check their buildings and contents insurance to make sure they are adequately covered should anything go wrong.
"The national passion for DIY shows no signs of slowing," comments Stephen Hinbest, head of general insurance product development for Bradford & Bingley. "
"However, while concentrating on whether to add a bedroom, a bathroom or just improving what you already have, many people forget that they must alter their insurance accordingly."
He points out that for those who forget it could realistically mean some rather "expensive mistakes".
Mr Hinbest explains: "With the high levels of house price inflation we have witnessed over the last few years, many people are preferring to improve their current home instead of trading up."
Indeed, nearly half of those questioned (47 per cent) are opting to improve rather than move this year.