DIY accidents cost public £1.5bn a year

DIY jobs around the home that go wrong are costing the public some £1.5bn in year with many woefully underinsured, Paymentshield says.

A recent YouGov poll, commissioned by the provider, showed that over a quarter of those questioned do not have basic cover. And almost half of those with home insurance said that they failed to check that their existing home insurance policy provides the necessary level of cover to fulfill their needs.

Tim Johnson, CEO of Paymentshield, said: “Statistics have shown that as the winter weather blows away, homeowners increasingly look to undertake DIY tasks.

“With a quarter of homeowners without insurance, and a third not expecting accidental damage to be covered by a standard policy, brokers have a unique opportunity to educate consumers on the benefits and details of their policies.

“With large bills potentially looming, it is critical to ensure that homeowners, particularly those looking at home improvement, have the appropriate insurance to cover them for any eventuality.”