Endsleigh Insurance is warning homeowners that getting repairs and home improvement work done by non-approved people can mean home insurance is not valid, leaving the consumer unprotected.
Should the design or workmanship of a home improvement project be below the typical standard, or if unsuitable materials or tools are used, Endsleigh Insurance will not pay out for any claims made. They, along with many other insurers, will also refuse to pay when structural modifications that have been done on a DIY basis, lead to a buildings insurance claim.
The view of the insurer is that they are basing their premiums on the perceived risk of the property as described. If this changes, through a home improvement project for example, the insurer, be it Endsleigh home insurance or any other, needs to know about it, and to what standard it was done, so they can re-evaluate the risk profile.
Excellent first quarter results for the Admiral group have raised expectations for a record year through the rest of 2008.
Turnover for the car insurance provider was up by 14 percent in Q1 compared with the same time last year at GBP232 million. More excellent news came with the increase in customer numbers that was also recorded. Admiral saw the number of customers rise by 17 percent, a factor that leads them to consider the possibility of a record year.
The CEO from Admiral insurance said that they would keep delivering good results in spite of the difficult trading conditions they are dealing with. Car insurance is something that everyone needs and by being competitive they can win more market share.
Admiral car insurance has warned car drivers that they could see their premiums 5 percent higher by the end of this year.
In the first half of the year insurance premiums have risen by around 2.5 percent according to data collated by Admiral, with a similar level of increase expected in the second half of the year. On the back of all the other price rises that are hitting consumers there appears to be no escape from rising costs.
What seems to be happening is that the cost of car insurance is going up even though the number of claims is relatively unchanged. Admiral suggest that it may be the increasing cost of repairs that is forcing premiums up.
