While the temptation is likely to be growing for many
budding DIY enthusiasts to take on a project over the
weekend, one insurance company is warning them against
biting off more than they can chew.
According to Saga, one in 20 people in the UK have at some
point been forced to call out a professional to rectify
work that they have carried out on their home themselves.
While one personal loan may be useful in covering the cost
of tools and equipment when planning to tackle a staircase
or to repaint the exterior, there is a risk for the
inexperienced that another loan might be called for to fund
corrective work afterwards.
However, the effect on the avid DIYer's bank balance is not
the only risk associated with taking on complex jobs such
as rewiring or plumbing without proper training. According
to Saga's research, one in four people are injured while
carrying out home repairs or improvements. It also suggests
that men might be more foolhardy than their female
counterparts given that males are more likely to do
themselves an injury. "Saga Home Insurance advises DIY
enthusiasts to make sure they do not try any jobs unless
they feel they can do them and to always take their time
wearing suitable clothing and footwear," the firm states.
Those concerned that they might not have the appropriate
equipment and looking to improvise instead, or who are
tempted to scrimp on costs to get the job done more
cheaply, might be better advised to consider a personal
loan. By purchasing the best equipment they can afford it
is possible that consumers could be better pleased with the
final result. Alternatively, for those uncertain about
their ability to carry out such tasks themselves, a cheap
loan can be an effective way of spreading the costs
involved in hiring a trusted professional.
Meanwhile, Allianz Insurance has released its own research
suggesting the true cost of bodging a DIY job. The company
estimates that as much as 25 million pounds worth of damage
could result from the coming bank holiday weekend's
undertakings. Simon Coughlin, spokesman for the financial
services provider, said: "Before they start, we suggest DIY
enthusiasts should check to see if their insurance policy
covers them for accidental damage in case the job goes
horribly wrong. The average cost of a claim for DIY related
damage is 600 pounds and our claims staff expect to be
busier than usual following a bank holiday weekend."
Those who discover that their policies do not cover any
damage resulting from their DIY activities could benefit
from the financial assistance of a personal loan.
Meanwhile, news earlier this year from moneyfacts
emphasised the growing attractiveness of cheap loans in the
current financial climate, given that such borrowing is
subject to lower levels of interest than in previous
months. The likes of Alliance & Leicester's and Barclays'
personal loans were both said to have seen reduced interest
rates in a bid to attract higher numbers of borrowers.
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Abbi Rouse writes for All About Loans where visitors can
apply online for cheap UK loans. We also specialise in
poor credit loans, and cheap consolidation loans. Visit
today http://www.allaboutloans.co.uk/
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