DIY Costs Home Insurers & Landlords £1.2 Billion

Cash-strapped landlords and homeowners are mothballing repairs or patching up themselves to try to keep hold of their cash to the detriment of their properties, claims an insurer.

Around 8% tried to save cash by delaying boiler servicing and repairs, 4% left roof repairs on hold, 5% lived with broken windows and 2% with dodgy locks.

The AA says four out of 10 homeowners have put off maintenance of tried a DIY solution. Around 14% tried DIY instead of calling in tradesmen.

Around 3 million homes suffered more damage as a result of their austerity measures, spending an average of £398 each trying to rectify them.

Around 8% of homeowners delaying work had to deal with a home emergency as a result, and 7% had to call a tradesman to deal with the repair.

Only 5% were covered by their standard buildings insurance policy and only one in five (19%) had home emergency response policies that covered the costs of the work.

The total bill to put right botched or ignored work was £1.2 billion.

The AA’s Tom Stringer said: “As the struggling economy continues to hit people in the pocket, more people are putting off home maintenance and are letting their homes get into a state of disrepair. Many homeowners seem to be mirroring the government’s drive for austerity but this can be a false economy as problems tend to get worse in the home if you leave them unresolved.”

Not only is putting off maintenance a false economy in many cases, but failing to complete some works can void insurance policies.

Repairs that leave a home insecure – like damage to windows and locks – leaves a buildings insurance firm a get-out if a claim is made.

Dodgy DIY jobs that have contributed to more damage rather than solving a problem are also unlikely to paid out by home insurance firms.

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One Response to DIY Costs Home Insurers & Landlords £1.2 Billion

  1. A landlord should treat their let property as a business and that means fixing problems quickly and professionally and generally that means DIY is out unless you know what you are doing. It’s good customer service and it’s part of the agreement with the tenant to live in an operational property. And all cost is tax deductible so there is no excuse. You can insure against many of the problems for very little money – boiler cover and landlords contents insurance are low cost add ons to many landlord insurance policies. Try The Property Insurer for any specialist let property insurance needs.

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