The Supermarket Bank is urging homeowners to make sure they are not leaving themselves uninsured
One in seven (14 per cent) UK adults have faced a home improvement mishap within the last 3 years according to new research from Sainsbury’s Bank Home Insurance(1).
The Supermarket Bank is urging homeowners to make sure they are not leaving themselves uninsured when it comes to making improvements to their homes.
Over Easter, 38% of people told the Bank they were planning to undertake DIY work on their home or garden over the two day Easter bank holiday. With two more bank holidays to follow in May, similar levels of DIY activity could be in the offing.
The would be DIY-ers indicated that men were more likely to undertake the work than women, in particular carpentry (13 per cent v 4 per cent) and plumbing (10 per cent v 2 per cent)(1).
Whoever takes on the DIY duties, it’s important to make sure you have good quality home insurance in place that covers accidental damage as mishaps can happen.
The most common mishaps to happen when renovating include(1):
Crucially, if you’re undertaking major works for example building an extension, changing your windows or converting your loft, you must make sure your tradesmen are fully insured, and it’s important to let your insurer know of any planned activity in advance.
Once the work is complete you should alert your insurer, as new rooms etc will have a bearing on your buildings cover and you’ll want to make sure you’ve also adjusted your contents cover if you’ve added new furnishings or TVs etc.
The research findings show that of those who have undertaken renovation work at their property in the last 3 years just a fifth (21 per cent) notified their insurer, and 7 per cent only did so once the work was complete(1).
Those in London are most likely to have pre-warned their insurer ahead of works (41 per cent), whilst those in East of England leave themselves most open to risk with less than one in ten (9 per cent) telling their insurer they were completing work.
Karen Hogg, Head of Insurances at Sainsbury’s Bank, said: “We’re a nation of DIY lovers and many of us will be planning some home or garden work over the coming weeks.
“Our research shows that just under a quarter of people undertaking work had notified their insurer, which may lead to them being uninsured.”
Sainsbury’s Bank’s home insurance gives UK consumers peace of mind of knowing they’re covered. Our home insurance products are 5 Star Rated by Defaqto and we offer home contents cover up to £75,000 as standard(2).
With Sainsbury’s Bank Optional Damage Cover, we'll insure you for mishaps like putting your foot through the attic floor, spilling paint on a floor or carpet, drilling through a water pipe or cutting through a cable. In a nutshell, it gives you extra protection against accidental damage to your home that isn't covered under the main buildings insurance policy(2). This level of cover is optional.
ENDS
Notes to Editors
For further information please contact: [email protected] 0131 286 0010
(1) Sainsbury’s Bank commissioned Opinium Research to survey 2,003 nationally representative UK adults aged 18+ between 2 and 6 March 2018. Opinium Research is a member of the British Polling Council and abides by its rules).
(2) Terms apply. Sainsbury's Bank Home Insurance is arranged and administered by Sainsbury's Bank and is underwritten by a carefully selected range of insurers. When you get a quote we will tell you who the insurer is before you buy the policy.
About Sainsbury’s Bank
To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre at www.sainsburysbank.co.uk/media
Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.
Sainsbury's Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury's Bank plc is covered by the Financial Services Compensation Scheme (FSCS).