After getting planning permission, consider your home insurance
April 1, 2011
Improving your home may well be a better idea than moving at the moment, especially given the economic climate. With property prices tumbling across Britain – and predicted to continue falling for some years to come – it's unsurprising that more and more households are finding that investing money in a renovation or extension is the best way to increase their living space.
If the project is fairly large, such as a loft conversion or building a conservatory, you'll obviously need to look into planning permission and local building regulations, as failure to do so could result in having to pull down your extension or even facing a fine. However, there are other things to consider when you're planning a home improvement. Before, during and after a project, it's important to review your home insurance, for a number of important reasons.
For a start, you'll need to look into whether your policy would cover you in the event of a mishap during the building works, whether you&'re carrying out the job yourself or bringing in a professional tradesman. In some cases, accidental damage cover may be what you need, but it's always a good idea to speak to your provider and discuss your options. Honesty is always the best policy, even if it brings up your premiums slightly.
You should also keep in mind that an improved home is often worth more, not just in terms of its market value but the value of the contents contained within. For example, if you've decided to build a conservatory, it's likely you&'ll have spent a quid or two on furniture, fixtures and fittings. This means that you may need to increase the value of your contents cover to include these new items and reflect the fact that replacing your possessions would now be a more expensive affair than before.
Failing to get the right level of cover could lead to disaster, especially if there's a major problem in your home such as a flood or fire. It's important to remember that in the event of such a disaster, you will only ever get back goods to the value of your home insurance, no matter how much stuff you actually lost. Increasing the value of your home contents cover will almost always make your premiums more expensive, but it&'s an investment that could turn out to be essential should the worst happen one day.
To find a company who may assist you further, simply click on the free links located on the right hand side of the page.
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