Increased home insurance 'advisable to cover new installations'

Posted : 10-12-2007

Following the installation of new features in a property, policyholders may be advised to increase their home insurance to cover its value, according to the British Insurance Broker's Association (Biba).

Steve Foulsham, technical services officer for the association, notes that after a DIY project has been completed, it may be wise to reassess the value of a home and its contents.

"If it's an expensive, state-of-the-art new kitchen worth £10,000, then you may wish to increase your sum insured to cater for that," he adds.

He also notes that the "general feeling" among providers is that if an installation is static and will not be taken with a consumer when they move home, such a feature is regarded as part of the property and is covered by buildings insurance rather than contents.

According to the British Retail Consortium, citing figures from Datamonitor, the UK DIY and hardware market is estimated to be worth £16.1 billion next year.


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