Halifax Home Insurance: DIY parents boost house prices

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Halifax Home Insurance: DIY parents boost house prices

Thu 28th Sep 2006

British parents are adding £33.4 billion to the price of their children's homes by helping out with DIY, according to new research by Halifax Home Insurance.

Halifax Home Insurance reports that the total takes into account value added to children's homes over a period spanning the last five years, often due to parents ' DIY skills.

Martyn Foulds, senior claims manager at Halifax Home Insurance, spoke of his admiration for parent's parents' handiwork on discovering the findings, claiming that extra household work will "add significant value to a property".

"Regardless of who carries out the work - it is worth making sure that you are covered for any damage done to the property. Halifax receives around 50,000 claims a year as a result of DIY disasters, such as breaking pipes or drilling through wires," he remarked.

Those aged between 18 and 24 are the most likely to ask for parental assistance in DIY matters, with Halifax Home Insurance reporting 84 per cent needing help in the past five years.

Halifax Home Insurance currently offers a 25 per cent discount to customers purchasing online and up to 30 per cent discount for those with no claims.

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