Brits splash out on home improvements every five yearsThursday 11 October 2007
Brits splash out on home improvements every five years
- One in three Brits expect home improvements, such as a new kitchen or bathroom, to last less than five years
- Bedrooms and bathrooms most popular rooms to be refurbished
- Homeowners who undertake major change to their home without informing their insurance company could be underinsured
Homeowners up and down the country are splashing out on altering their homes every five years, according to research by Saga Home Insurance. In addition, two in three people were not aware their insurance company may require notification, in advance of any major work, such as extensions, despite the possibility that it may impose limitations to their cover whilst the work is being undertaken.
The research showed that one in three people (31 per cent) have undertaken home improvements when they weren't needed, purely for cosmetic purposes, suggesting that more people change their bathrooms, kitchens and bedrooms to keep up with the latest fashions.
Saga's findings also confirmed that the over 50s are more likely to invest in improvements that will last a long time – just 23 per cent of this age group expect to replace them within five years compared to 41 per cent of those aged under 50 who said the same.
Bedrooms and bathrooms are top of the priority list to be changed, with 39 per cent of people having redone these rooms in the last three years. Scots however, are more likely to spend their money on redoing the kitchen (42 per cent) over the bathroom (37 per cent).
Amidst all this ripping out and refurbing, Saga is reminding homeowners to let their insurance company know before they embark on any major work. It is important to be aware of these limitations so that you can make appropriate precautions or extend your cover during this period. For example, unassembled kitchen units, uninstalled bathroom suites and most unfixed building materials are excluded from most policies as standard.
Also Saga Home Insurance advises DIY enthusiasts to make sure they have full accidental damage cover added to their buildings and contents insurance just in case they make any mistakes!
Notes to Editors-
* Research carried out by YouGov for Saga Home Insurance between 7 and 12 September amongst a UK representative sample of 2,231 respondents
For further press information please contact the Saga Press Office on: 01303 771529.
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