Homeowners face DIY financial disaster

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Having a go at DIY is one thing, but having a go when you’re not even sure you’ve got the right insurance to cover yourself for a disaster is quite another.Confused DIY

But it seems that a majority of homeowners are doing just that, leaving themselves potentially open to financial ruin if their attempts at repairs and improvements go horribly wrong, a survey by home insurance broker Policy Expert shows.

Answered by 3,174 customers, the survey found that 59% of UK homeowners are either certain they don’t have the right insurance for DIY activities, or they don’t know if they have.

One in five ‘hate DIY’, but do it to save money

And 22% of respondents said they hate doing DIY but attempt it anyway to save money, suggesting we’re not dealing with out and out, self-taught experts here.

It’s a fairly safe bet that if someone’s doing something they hate due to financial pressures it means there’s a higher chance things could go seriously wrong.

They might not have the skills and knowledge to attempt DIY properly and as a consequence could either damage their own property or, worse still, injure themselves or their family and friends as a result.

Why having the right cover for DIY is so important

Given that just over one-in-five surveyed have had a DIY disaster of some sort, it’s concerning that so many people aren’t sure if they’re covered as the financial ramifications of not being are extremely serious.

Even if you have confidence in your DIY skills, and previously had no problems, you should still ensure you have the right cover in place to protect you from things going wrong.

What sort of cover is necessary for DIY?

Most standard policies come with protection for the sorts of things that can affect a home’s structure, such as fire, flooding, collision and storm damage.

However, if damage occurs due to what would be considered by an insurer to be your own actions, such as accidents which can happen when attempting DIY, the chances are you won’t be covered.

Examples where DIY could cost you dear

In the most extreme circumstances, if you were carrying out DIY to your home’s electrics which led to sparks flying and setting your home on fire, completely destroying it, you might not get a penny back.

A perhaps more typical example where you also might have a claim rejected would be if your DIY work led to water flooding from pipes through your property, causing damage to ceilings and carpets.

You need ‘accidental damage’ cover

In both of the above cases, you would only be covered if your policy included additional ‘accidental damage’ cover.

Accidental damage can usually be added to a policy for a relatively small extra charge. So if you attempt DIY, it’s highly recommended that you take it out! A quick call to your insurance broker or insurer should sort it out.

Check your cover immediately

If you’re uncertain if you have the right sort of cover in place for DIY activities, then you should contact your insurer or broker immediately to check, as well as reading through the terms and conditions in your policy documents just to make sure.

Policy Expert
If your home is your haven, you’ll want it to have the best protection. Compare quotes from our range of handpicked insurers and tailor a policy to suit you. For more information speak to one of our experts on 0203 014 9300 or email ask@policyexpert.co.uk

 

The views expressed here are solely those of the author and do not necessarily reflect the views of Policy Expert.