Maintain Your Home Insurance Coverage – Don’t Make These Common Mistakes
Homeowners take great pride in their homes, making sure every detail is perfect, and the décor is just right. However, many homeowners are not as diligent when it comes to their home insurance coverage. Often, they overlook the importance of keeping their insurance provider up-to-date when making changes to their homes or lifestyles. Homeowners who fail to disclose information that significantly increases the risk or changes the nature of their insured property may end up with an invalid insurance policy that doesn’t adequately protect them during emergencies or disasters.
Insurance policyholders often make several seemingly harmless errors that turn out to be disastrous when they file a claim. While each insurer has varying guidelines in terms of what’s considered “material” for insurance policies, many mistakes can lead to an invalidated claim. Experts from Quotezone.co.uk, a leading price comparison platform for insurance, are urging homeowners to be aware of the common mistakes that could affect their home insurance premiums. They also recommend speaking with their insurance provider before making any changes to avoid invalidating their coverage.
Below are some common errors that could affect your home insurance premiums:
1. Pet Doors
Although installing pet doors may not seem like something to alert your insurer of, cat and dog flaps give access to your home from the outside. Some insurers view pet doors as making your home less secure, so it’s essential to update your insurer when adding one to your property. If you fail to do so, your policy may be invalidated in case of a claim.
2. Taking Long Holidays
Leaving your home empty for an extended period leaves it vulnerable to crime or could lead to severe damage from a burst pipe or a gas leak if no one is there to notice it. Therefore, it’s essential to seek advice from your insurer if you plan to be away for 30 days or more and ensure that your policy is updated with the correct number of unoccupied days indicated; failure to do so may invalidate your insurance policy.
3. Running A Business From Home
If you run a business from your home, it’s important to inform your insurer as you may need to be covered under a separate policy. The type of work you do will dictate the coverage. A separate policy is critical to protect clients, employees, delivery people, inventory, and business equipment, and will also help you in claims against theft, fire, or any sudden event that affects your business space.
4. Letting A Room
If you rent out a room in your home, check with your insurer to know how it will affect your home insurance policy. Many insurers consider rented rooms a risk, and some rented rooms may not be fit for purpose. For instance, in some areas, a basement without windows is considered an illegal apartment and can lead to a claim denial if something were to happen.
5. Social Media
Your social media activity could leave your home at risk. Letting your online following know that you’re jetting away and leaving your home empty makes you vulnerable to burglary. Posting a few images of your time away may not be enough on its own to lead to an invalidated claim, but oversharing online could make the insurer call into question the “reasonable care” of the property, making it wise to be cautious, turn off location settings when posting, or wait until you get home.
6. Renovating
Starting renovations in your home without alerting your insurer may invalidate your policy, as revamping your home increases the value of the property and the risk of accidents. Contractors coming into your home to carry out the work should also have their liability insurance.
In conclusion, home insurance is a responsibility that comes with being a homeowner. It’s essential to maintain your home insurance policy and inform your insurance provider of any changes that affect your risk. By being aware of these common mistakes, you can avoid invalidating your insurance policy in the event of a claim. Quotezone.co.uk helps around three million users every year find savings on everyday household bills and essentials.
