The Most Dangerous Thing You Can Do This Easter

Are you thinking of getting the power tools out this Easter? When it comes to DIY, it's crucial to have the right home insurance cover.

If you're thinking of doing a little gentle DIY over the bank holiday weekend, then before you even consider getting out those tools, you need to make sure your home insurance is up to scratch.

Recent research by Allianz Insurance has found that around 16% of people damage their properties carrying out DIY `improvements'.

More worrying still, nearly 30% of those questioned said they'd injured themselves while carrying out a DIY job.

And according to the Royal Society for the Prevention of Accidents, an estimated 200,000 DIY enthusiasts turn up at hospital every year.

It seems that men are almost twice as accident-prone than women. Recent Saga research has shown that 35% of men sustain DIY injuries, compared with just 15% of their female counterparts.

But even when looking purely at the financial side of things, you may end up wishing you hadn't bothered to get that toolbox out.

Check you're covered!

According to Allianz, the average cost of a claim for DIY-related damage is a whopping £600.

This means your wallet - and your walls - could suffer some serious damage if your home insurance policy doesn't cover you for accidental damage.

Obviously, adding this cover will push your premiums up: typically by 10%-25% in the case of buildings insurance, and 30%-50% for contents insurance.  

But then, not paying that bit extra could prove a false economy if you accidentally knock down a supporting wall...

What to look for

All these scary statistics highlight the fact that when it comes to home insurance, you need to do your research. Here are some of the main things you should consider:

 It may well be worth your while paying that bit extra for unlimited cover.

When the contents of your home is insured for a specific sum, you need to know exactly what everything is worth and add it all up correctly. If you make a mistake, you risk being under-insured. This your provider may choose not to pay out your claims in full.

When buying buildings insurance, some providers will also ask you to estimate the cost of rebuilding your home (I certainly wouldn't feel confident doing this!).

If you choose unlimited cover, you'll probably pay a bit more, but all these potential problems are avoided. Just bear in mind, though, that there's still likely to be a limit on individual items.

 Keep a look out for some good added extras. For example, some insurers provide emergency home repairs cover. This pays out if, for example, you need a man to zip round ASAP to fix a burst pipe.

And if you have no history of claims, it's also worth keeping an eye out for a policy that offers you a no claims discount.

 Buying both buildings and contents insurance from the same provider can often work out cheaper.

This can also make things simpler for you if you do need to make a claim - as you're dealing with one organisation rather than two.

Reduce your premium

If you already have home insurance, you can take some simple steps to reduce your premium.

 Beef up your home security. Fitting a burglar alarm - and some effective window locks - are just two ways of doing this. Have a look at this funky virtual home from the Halifax for lots more security tips or listen to our MoneyTalk podcast to find out why you should plant rose bushes to deter burglars.

Once you've made the changes, don't forget to let your insurer know - and they should adjust your premium accordingly.

 Finally, if you're policy is up for renewal, shop around! I can't emphasise this enough. Loyalty doesn't always pay, as the best deals are very often only available to new customers.

Get Stuck In

DIY might not seem very romantic but, for chaps looking for love this Easter, there's apparently a major bonus to honing up your DIY skills. A survey Halifax Home Insurance recently found that 49% of women rate DIY skills as 'highly desirable' in a potential partner.

I can see where they're coming from. Personally, although I love a bit of DIY, I'm definitely in the `enthusiastic amateur' camp. I can injure myself changing a light bulb.

If you're planning to get handy with the Black & Decker over the next few days, just double check your home insurance first - and good luck!

More: Money Talk Podcast: What You Need To Know About Home Insurance | Avoid These Insurance Traps!