A home insurance expert has issued a warning that could cost up to £30,000 if ignored. Organising home insurance might seem like a chore, with all the forms and details to remember. However, failing to check everything thoroughly could lead to a costly bill of up to £30k.
Heath Alexander-Bew, property specialist at Alan Boswell Group, has highlighted the importance of providing accurate information for your cover. Incorrect details can result in claims being rejected and significant issues, leaving homeowners ‘unprotected when you need it most’.
In situations such as flooding, where costs can soar to ‘£30,000’, having invalid insurance means you would have to foot the bill yourself, which could be a severe hit to your finances. Alexander-Bew recommends: “To avoid this, it’s vital to ensure that all the information you provide to your insurer is accurate and up-to-date. This includes specifics like the correct rebuilding sum insured, number of bedrooms, construction, year of build and whether listed Failing to do so could result in denied claims for structural damage or property repairs.”
“Precision is key to safeguarding your home and investment,” reports the Express. Moreover, Alexander-Bew also cautions against neglecting repairs as a way to cut corners on time and money, warning that it could cause preventable damage and further complications with insurance.
As a result, your insurance provider may be hesitant to cover these costs. In the case of a serious damp problem, for example, Alexander-Bew cautions that this ‘may be up to £10,000’ worth of damage.
He further added: “Neglecting repairs can result in significant out-of-pocket expenses, especially if the damage was preventable. Conduct regular maintenance like clearing guttering, repainting doors and windows if applicable, and address issues like leaks, loose pathing slabs or broken windows promptly. This proactive approach can save you money and keep your home in top condition.”