An impact insurance claim arises when your property is damaged by an external force.
Examples include damage from a falling tree or a vehicle collision. Beyond the initial shock and stress, these incidents often compromise the structural integrity of your property.
The popularity of DIY boomed during lockdowns and remains a popular hobby as we spend more time at home however there is a risk that you could invalidate your home insurance policy if you do not notify your insurer of your plans to renovate or of the changes you have already made.
According to new research from GoCompare Home Insurance a whopping *61% of homeowners turned to home improvements during lockdowns which included extensions and major renovations as we all scrambled for space to home school, work and live together.
Unsurprisingly redecorating was identified the most popular DIY project followed by garden makeovers with *6% of the more adventurous DIY-ers installing new bathrooms and kitchens. Each homeowner who spent *£1,400 in total on their DIY project added £2,000 in value to their property.
Insurance claim expert Paul Murchan, Director, Gullion Ltd asks, “Have you notified your insurer of these changes? Did you invest in a hot tub, garden furniture, tech or specialist high ticket items? Failure to declare could at worse risk invalidating an existing policy and at best leave you underinsured.
“Home insurance providers always recommend that you notify them BEFORE renovating or altering a property. They can then decide whether they can provide cover both during the work and afterwards, when the property will be different to the home that they initially insured.
“Like me, for those who are more Mr Bean than Mr DIY, accidental damage cover will safeguard you from poor workmanship however it is usually sold as an optional extra. Your insurance policy is a contract which you are agreeing with your insurance provider. As policies vary between providers you should read the small print of your policy. Any insurance claim can only be negotiated within the parameters of your individual policy, so it’s important that it provides full protection for you and your asset.”
For a FREE survey and independent advice on all property claims, contact Gullion Ltd, your local insurance claim experts. We are open 24 hours, every day and operate a ‘No Win, No Fee’ policy. EMERGENCY 24 HOUR HELPLINE call 028 3082 8838.
Gullion Ltd – regulated by the Central Bank of Ireland and authorised and regulated by the Financial Conduct Authority. You’re number one choice for insurance claims.
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*Report by GoCompare which reflect statistics in England only.
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