7% rise in home insurance premiums caused by dodgy plumbing as well as Brexit and home extensions with bathrooms
Home insurance is a necessary expense for your home. It protects us against fire, theft, and a host of other things, depending on our policy agreements. Over the last year, insurance premiums have risen by 7%, according to sources by Consumer Intelligence. In the survey, it stated that Brexit, dodgy plumbing, and home extensions – especially those with bathrooms – have been behind this year’s figures.
For minor plumbing jobs, the DIY approach is helpful when you really know what to do. Sometimes, this can be a quick fix with a short shelf life, and corners may be cut. This is where hiring a professional team like ours in Cumbria has great benefits. Not least the cost to your insurance premium as well as the peace of mind in a professionally done plumbing job. A smooth operation that is more Charlie Mullins than Barney Bodger.
With more people choosing to extend their homes, the rising popularity of home extensions has had an upward effect on insurance premiums. Where Brexit is having an effect, is in the exchange rate between the Euro and the Pound. This has increased the cost of raw materials. The average annual premium, covering home and contents insurance, is £131.
Dodgy plumbing claims
Most of the dodgy plumbing related claims were for burst piping – particularly where customers have tried to fix their own pipes. In our view, we strongly recommend hiring a professional plumber to save yourselves from such woes. The cost and the embarrassment is too much to bear, let alone your future insurance premiums.
D and A Plumbing and Electrical Contractors, 24 August 2017.