If you dutifully pay your home insurance premiums every year, but you haven’t taken much time to read the small print, you could be in for a shock should you ever need to make a claim.
Speaking to the Basildon, Canvey and Southend Echo, chief executive officer at Aviva UK Insurance Andy Briggs explained that there can be a number of exclusions on home insurance policies that catch people out.
He noted that the majority of standard home insurance policies won’t cover general wear and tear, damage to fences, gates or hedges, or the effects of damp or dry rot.
That means keeping your property well maintained is essential, as is calling in a specialist as quickly as you can if your home is suffering from damp or wet rot in London.
Mr Briggs recommended that any homeowner ensures that they fully understand what is and isn’t covered by their policies. In some cases, it may be possible to add to their cover for an additional charge.
He also stressed the importance of being honest with your insurer when it comes to “pre-existing matters”, as these will usually not be covered and failing to declare them when you make your application could mean your whole policy becomes void.
When you’re buying a home, it’s essential that you find out about any potential issues before you agree to a purchase price and exchange date. Getting a qualified surveyor to look at every aspect of a property is vital.
They can identify a range of issues, including damp problems or wet and dry rot. If one of these things is discovered, don’t panic. Although it will need to be fixed all of these issues are treatable and could help you negotiate a lower price for the property in question.