Home Improvements Could Leave Prospective Sellers Under-Insured

Released on: July 18, 2008, 7:53 am

Press Release Author: Caroline Spindlove

Industry: Consumer Services

Press Release Summary: With a sluggish housing market, homeowners thinking of
upgrading or extending their homes to increase saleability should be careful not to
become under-insured, warns Confused.com.

Press Release Body: Homeowners turning to DIY and home improvements in order to give
their property a boost need to be aware that neglecting to inform their href=\"http://www.confused.com/home-insurance\">home insurance provider of any
additions to the house's build/value will mean that these additions will not be
covered by their policy.

For example, an extension adding £20,000 of value to a property will go uninsured
unless buildings insurance is upgraded to specifically cover it. Failure to cover
the extension means that the homeowner could be liable for any repair bill should
something go wrong. Therefore, anyone making such improvements should be mindful of
keeping their buildings insurance policy up to date, as the rebuild cost will rise
accordingly.

Confused.com Product Director Simon Lamble said: "Additions to the home such as
conservatories or extensions are costly, and while they tend to increase the value
of the property, this is money thrown away if home insurers are not informed and the
improvement is subsequently, say, damaged in a fire."

"Likewise, if homeowners realise that they are staying put, and decide to indulge in
a little luxury - such as upgrading their old TV to an expensive plasma or LCD
screen - it's also sensible to check that these will be covered under their existing
contents insurance. If their price exceeds the valuable items limit, remember to
declare them separately."

Note also that some home
insurance
providers request to be informed when building contractors are working
on a property. To this end, homeowners are advised to check their policies.

--ENDS--

About Confused.com:

Confused.com is one of the UK's biggest and most popular price comparison services.
Launched in 2002, it dominates the car insurance aggregator market with a massive
70% market share and generates over one million quotes per month. It has expanded
its range of comparison products over the last couple of years to include href=\"http://www.confused.com/home-insurance\">home insurance, travel insurance,
pet insurance, van insurance, motorbike insurance, breakdown cover and energy, as
well as financial services products including credit cards, loans, mortgages and
life insurance.

Confused.com has 62 motor insurance partners, and customers can save up to on
average £208. It also has a panel of 43 for home insurance, and customers who use
Confused.com for home insurance can expect to save up to £193.

Confused.com is not a supplier, insurance company or broker. It provides a free,
objective and unbiased comparison service. By using cutting-edge technology, it has
developed a series of intelligent web-based solutions that evaluate a number of risk
factors to help customers with their decision-making, subsequently finding them
great deals on a wide-range of insurance products, financial services, utilities and
more. Confused.com's service is based on the most up-to-date information provided by
UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock
Exchange in September 2004. Confused.com is regulated by the FSA.


Web Site: http://www.confused.com/home-insurance

Contact Details: Caroline Spindlove
pressoffice@confused.com

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