MoneySupermarket.com has recently revealed an interesting point – that when people upgrade their home with a loft converson for example, they are not updating their home insurance.
When we have spoken to our own clients the reason for not updating insurance is quite simple – they genuinely don’t think about it. However, it’s an oversight that could have massive implications - because failure to report structural changes to a property could actually invalidate your insurance policy.
Having a loft conversion is usually accepted as the home improvement likely to add most value to a property. If it adds more than around £10,000 then your insurance premiums could increase – but surely this increase is worth it for the peace of mind?
And while we are on the subject of insurance – don’t forget you should only work with a reputable builder when carrying out major improvement like a loft conversion. You need to ensure that the company you use offer a guarantee on their work and materials and that both the company and its tradesmen have public liability insurance.
Becke Livesey from Econoloft a national loft conversion company said that homeowners should ensure the company they select can offer genuine customer testimonials and be a member of recognised trade bodies. “Look for logos such as the Federation of Master Builders (FMB) which is just one sign of a reputable organisation,” she said, “and don’t be afraid to ask to speak to previous customers.”
If you want to know more about loft conversions visit www.econoloft.co.uk or call 0800 269 765.
When we have spoken to our own clients the reason for not updating insurance is quite simple – they genuinely don’t think about it. However, it’s an oversight that could have massive implications - because failure to report structural changes to a property could actually invalidate your insurance policy.
Having a loft conversion is usually accepted as the home improvement likely to add most value to a property. If it adds more than around £10,000 then your insurance premiums could increase – but surely this increase is worth it for the peace of mind?
And while we are on the subject of insurance – don’t forget you should only work with a reputable builder when carrying out major improvement like a loft conversion. You need to ensure that the company you use offer a guarantee on their work and materials and that both the company and its tradesmen have public liability insurance.
Becke Livesey from Econoloft a national loft conversion company said that homeowners should ensure the company they select can offer genuine customer testimonials and be a member of recognised trade bodies. “Look for logos such as the Federation of Master Builders (FMB) which is just one sign of a reputable organisation,” she said, “and don’t be afraid to ask to speak to previous customers.”
If you want to know more about loft conversions visit www.econoloft.co.uk or call 0800 269 765.
