Skilled warns of frequent errors that might invalidate auto and home insurance – Liverpool Echo
An insurance professional has researched the most common causes of loss of home and car protection.
MoneySuperMarket has highlighted how something as innocuous as keeping silent about a new job can result in a policy being voided.
The results prompted Praksha Patel-Shah of the price comparison website to urge drivers and homeowners to double-check their policies.
READ MORE: Motorists are urged to ignore the myths of speed cameras while auto experts explain how they work
The insurance expert said, "If you haven't read your policies in a while, read them again to familiarize yourself with the terms to ensure you have the right coverage for your needs."
The study showed that more than a quarter (27%) of respondents said they kept their windows open while they were away but were unaware that doing so could result in a home insurance claim being denied.
Posting a selfie on social media while on vacation, which 16% of respondents said without knowing their cover might expire, could also alert burglars that a house is empty.
Many people did home renovations such as extensions during the coronavirus lockdown – but 16% said they hadn't reported renovations to their insurer and didn't realize it needed to be done.
Also, people were unaware that a friend's prolonged stay could potentially affect their policies as well.
When it comes to car insurance, 16% of drivers did not know that changing jobs or job title without informing their insurer could invalidate their policy and therefore remained silent about it.
MoneySuperMarket's research revealed the five most common mistakes people make when they lose their auto and home insurance coverage.
The percentages show how many of the 2,000 people surveyed did not know that this would invalidate their policy.
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Top 5 Ways People Unknowingly Void Car Insurance
– Job / job title changed, but not informed your provider, 16%
– Driving unhindered with a pet on the seat, 15%
– Have you had an accident in which your car was damaged but the insurer was not informed, 11%
– Error updating your main address, 7%
– Provided incorrect information to your insurer about the overnight location of your car, 7%
The 5 most common ways people have unwittingly invalidated home insurance
– Windows left open when leaving the house / apartment, 27%
– Posted a picture on social media while on vacation, 16%
– Renovating your house / apartment without notifying the insurer, 16%
– Leaving a door unlocked when leaving a house, 12%
– Had a friend who stayed over a month 10%
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