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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - Life Insurance
Life InsuranceFor peace of mind that your loved ones will be supported financially after you die, consider taking our life insurance. Find out more and compare policies.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
Undertaking renovations to your home can be an exciting project. Painting your living room in a new colour can refresh your living space, while larger building tasks like adding a room can often add value to your home.
But what effects could this have on your home insurance policy? Will additional rooms force your premium upwards, and does your home insurance plan cover potential accidents during the building phase?
This will all depend on your level of cover and the extent of your home renovations. But generally, if you’re planning on painting the walls and changing carpets, a standard insurance policy should cover potential accidents. Remember that this is a generalised statement, and you’re still strongly advised to check your policy documents.
Adding a garage or room onto your property, meanwhile, is unlikely to be covered by a common buildings insurance policy. Instead, you can add this level of protection onto your existing home insurance plan or take out a separate policy.
More details on how this works are discussed below.
Besides cover for potential accidents, you’ll also need to consider if these renovations will be covered under your existing buildings insurance policy. Major renovations will add value to your home and will therefore likely increase your premium, while smaller renovations won’t require change on your policy documents. This is because a more valuable home increases the risk to your insurer, who would now have to fork out a bigger payout in case of damage or rebuild.
Let your insurer know of your renovation plans before any work commences. This way your insurer will be able to confirm if this will increase your premium and if you need extra cover during the renovation stage.
If you’re undertaking a large-scale renovation, and you wish to insure your home for theft or potential damages during this period, then you may need to add additional cover to your home insurance policy. This can either be added to your existing home insurance cover or come in the form of an additional one-off policy.
Remember, if you’re adding additional cover to your plan, it doesn’t hurt to shop around for the best policies.
A great place to start is by investigating what some of the best-known home insurance providers offer. To do this, visit our home insurance charts today to find the providers who offer the best value for money.
There are various insurers who provide home renovation insurance. This type of cover could include:
If you do opt for additional home renovation cover, then you’ll likely need the following information at hand:
For a specialised home renovations policy this will determine the length of your insurance policy.
If you are looking to add contents insurance cover to your plan then an unoccupied home could increase your risk of burglary.
Your insurer would need to investigate if your builders are covered for public liability insurance.
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Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
A cooling off period is a number of days, usually 14, that allows you to change your mind about a purchase or contract you completed from a distance. Find out when this applies and how it works.
A cooling off period is a number of days, usually 14, that allows you to change your mind about a purchase or contract you completed from a distance.
For many businesses, it is key to offer perks to their job listings to attract the best possible applicants. One of these benefits some businesses provide is relevant life insurance for their employees. Below we have explained how relevant life cover works, and which businesses could use it.
In this article we have explained how relevant life cover works, and which businesses could use it.
Keyperson insurance can be a vital safety net for your business. Not only does it provide businesses with cover during turbulent times, but it can also give their owners with a peace of mind. Below we have explained what this insurance is, and how it can protect your business.
In this guide we have explained what keyperson insurance is, and how it can protect your business through turbulent times.
A cooling off period is a number of days, usually 14, that allows you to change your mind about a purchase or contract you completed from a distance. Find out when this applies and how it works.
A cooling off period is a number of days, usually 14, that allows you to change your mind about a purchase or contract you completed from a distance.
For many businesses, it is key to offer perks to their job listings to attract the best possible applicants. One of these benefits some businesses provide is relevant life insurance for their employees. Below we have explained how relevant life cover works, and which businesses could use it.
In this article we have explained how relevant life cover works, and which businesses could use it.
Keyperson insurance can be a vital safety net for your business. Not only does it provide businesses with cover during turbulent times, but it can also give their owners with a peace of mind. Below we have explained what this insurance is, and how it can protect your business.
In this guide we have explained what keyperson insurance is, and how it can protect your business through turbulent times.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.