A study by Zurich Insurance has revealed that over 15 percent of property owners have had to get proper tradesmen in after struggling to do it themselves.
The biggest reason these people had for going down the DIY route was saving money, with a third of people citing this reason. However Zurich Insurance found that they typical cost of making right the damage caused came to GBP280. Home insurance knowledge was a little shaky on the subject too, with almost 75 percent of people not knowing if DIY disasters would be covered.
Also regarding home insurance the Zurich Insurance survey found that nearly half the respondents would not think to inform their insurer if major improvements to the property were to be made.
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Lloyds TSB has announced a new home insurance product for those aged 50 and over, with the option to tailor the protection to suit specific requirements.
This new Lloyds TSB insurance product acknowledges the many and varied needs of people so gives them the chance to opt in or out of different aspects of home protection. Standard cover includes fire, flood, subsidence and theft but on top these there are 21 other areas of household insurance that can be added if required to match the householders individual lifestyle.
A bank spokesman said that this alternative approach showed how well Lloyds TSB recognised the customers as individuals and that we all have different needs from home insurance.
Tenants are being asked by Direct Line home insurance to make sure they have contents insurance in place and also to speak to landlords regarding home security.
It makes sense for landlords to protect their property with security measures said a Direct Line spokesman, especially since it can help reduce insurance premiums. It is also prudent for tenants to have contents insurance cover to protect their own belongings.
Many tenants are surprised when they find out how little Direct Line home insurance costs and feel much happier knowing their goods are covered. With the added security provided by the landlords actions too that figure can go even lower.
