Protecting your home from theft or damage is vitally important. And yet research from price comparison site Finder suggests that a quarter of UK homes don’t have any form of home insurance. That’s over 6 million homes, with average contents worth more than £35,000.
Even if you have home insurance, when was the last time you updated it or checked the small print?
There are many ways that you could accidentally invalidate your home insurance or damage your chances of making a successful claim, from installing a cat flap to not updating your details or even posting a holiday selfie online.
How a holiday selfie could invalidate your home insurance
From Facebook and Twitter to Instagram and TikTok, the proliferation of social media means we are sharing our lives with the world like never before. And while sharing holiday snaps with your friends or followers might seem harmless, there could be serious consequences for your home insurance.
The issue is so important that the Financial Ombudsman (FOS), the Association of British Insurers (ABI) and the police have previously issued warnings about posting holiday selfies while you are away.
As unscrupulous fraudsters and criminals move increasingly online, sharing holiday snaps to social media is effectively a sign in your front window confirming that your house is empty – a payday for potential burglars.
And while your policy might not have a specific Social Media Exclusion forbidding you from posting to the internet, the small print will likely make clear your duty of reasonable care, or state that you must take reasonable precautions to avoid needing to make a claim.
In reality, you might find your insurer is lenient. Back in 2019, the Manchester Evening News approached leading insurers to ask whether a selfie would invalidate a claim. While Direct Line, LV=, and Churchill Home Insurance all stated that they wouldn’t decline a claim based on someone’s social media, they did reiterate the need for care.
Posting images of yourself at the airport or on the beach – or even showing off a new or expensive purchase online – could make you a target for burglars. Think about what you are about to post before it goes live and consider amending your account privacy settings before you go away.
Most importantly, make sure you have insurance in place that is up to date and familiarise yourself with the small print.
Other changes that could affect your home insurance
Several factors could alter how secure your home is and therefore have a bearing on both your premium and the likelihood of you making a successful claim.
Installing a cat flap
A cat flap could be seen to make your door – and therefore your house – less secure, and an easier target for burglars.
You must let your provider know of this change so they can decide on any change to premiums and ensure that your insurance remains valid.
Changing your door locks
Changing door locks will also have an effect, although the impact of the change will depend on whether they are increasing or decreasing security.
Less secure doors might increase your premium, offsetting the saving of potentially cheaper locks as well as increasing your chances of being the victim of a burglary. On the other hand, additional security – including burglar alarms and security cameras as well as more secure locks – could lower your premiums.
Building work and renovations
Building work could increase the number of people who have access to your home. This is especially important if they have access while you are out or away on holiday. An insurer could see this as evidence that you were not taking reasonable precautions.
Being away too long
Many policies will specify a certain amount of time you can spend away from your house.
Being absent for longer than this could invalidate your insurance. If you are going to be away for an extended period, consider asking trusted friends or family to housesit for you.
Not updating your personal details
Information you provide to your insurer must be as accurate as possible when you take out your policy. Be sure to inform them of any subsequent changes to your personal details so that the information your insurer holds remains accurate to the best of your knowledge.
Get in touch
Taking sensible precautions to protect yourself and your property should be enough to ensure a genuine claim won’t be declined.
Take a moment to check the cover you have in place, read the small print, and be careful about advertising extended holiday or one-off, expensive purchases.
If you would like to discuss whether you can afford protection or any aspect of your financial planning, get in touch by emailing hello@fingerprintfp.co.uk or call 03452 100 100.
