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Thursday 11th October 2007
According to the results of a recent survey, Brits splash out on home improvements every five years.
A poll by Saga found however, that as many as a third of those questioned only expected home improvements like a new kitchen or bathroom to last them less than five years.
The research found that one in three people (31 per cent) made changes to their home purely for cosmetic reasons, or to keep up with the latest trends in interior design.
Over 50s were more likely than their younger counterparts to invest in improvements that would last a long time - only 23 per cent of this age group expected to replace them within five years, compared to 41 per cent of those aged under 50.
However, while those polled seemed keen to fork out cash fairly regularly on renovating their homes, Saga pointed out that many could be ending up underinsured, and out of pocket in the event of an accident, by not telling their insurer about their home improvements.
As many as two in three people had no idea that their insurance company may require notification in advance of any major work, such as building an extension, to make sure they are covered while the work is being undertaken.
Saga also warned DIY enthusiasts to make sure they have full accidental damage cover added to their buildings and contents insurance, for peace of mind should they make a mistake.
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