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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Wednesday 19th March 2008
Homeowners have been advised to check their home insurance policy before undertaking any DIY this Easter weekend or risk ending up out of pocket in the event of a mishap.
Home insurance provider Allianz Insurance predicts that this Easter the collective bill for damage caused by DIY accidents could reach as high as £25 million.
In the event that they are not comprehensively ensured for such eventualities, many homeowners could find themselves heavily out of pocket as a result, according to Simon Coughlin, spokesman for the firm.
He said: "Before they start, we suggest DIY enthusiasts should check to see if their insurance policy covers them for accidental damage in case the job goes horribly wrong.
"The average cost of a claim for DIY related damage is £600 and our claims staff expect to be busier than usual following a Bank Holiday weekend."
Allianz research also discovered that 16 per cent of people have damaged their home while attempting to make improvements.
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