Whether you recently bought home insurance or have owned one for quite some time, things might be going well for you.
You are not anxious because you know that you will be covered during adverse times as the insurance company will bear the costs of repairs and rebuilding.
But when the need arises for making some repairs and you file a claim, a sudden thought might strike you as you receive the payment from your insurance company.
What if you do the work by yourself and pocket the amount of money you save instead of hiring the respective personnel appropriate for the job?
It might seem like a good idea, but instead of taking the DIY route just to save money, stop and consider the matter from various other angles as well. It may or may not be such a beneficial path after all.
The policy that you signed up for may have certain strings attached that define the type of repairs you can do by yourself and those that you can’t. There may be certain legal laws involved; you might not be allowed to pocket the extra money or perhaps your insurer does not permit you to complete your own repairs in the first place.
Whether you need to fix a small repair in your house or a large one, read on to find out all that you need to know about making a homeowner’s insurance claim when doing the work by yourself.
Can you DIY or not?
The insurance company pays to repair your house. Thus, it is the primary decision-maker when it comes to doing your own home repairs or involving a third party.
Some companies might allow it, some might not and some might want to provide a certain amount of supervision depending on the nature of the work required.
Minor or low-skilled repairs such as painting the walls or polishing the floor might not be objectionable. However, your insurer would want to be involved in technical repairs such as plumbing or changing the electrical wiring and so on.
Is it legal or not?
Besides considering whether the insurer needs to be involved or not, you should also consider the legality of doing the work by yourself.
For instance, maybe electricians are the only authorized people to fix any electrical repairs in your area. Or perhaps the law in your region prohibits you from doing household restorations yourself.
Thus, consult your local department of buildings or development services to make sure that you have the permission to carry out the tasks required.
Other factors
If you have a mortgage on your house, it is recommended to seek the lender’s advice too. They might have a say in who does the renovations on your property.
Should you really do it?
Even if your insurer grants you the permission to self-repair, make sure that you take into account all the risks and costs involved.
Many homeowners begin the maintenance chores themselves and end up doing a poor job. Some ultimately incur losses as they have to pay more than what they had hoped to save initially.
Therefore, don’t focus merely on the prospect of ‘saving money’ and do the work yourself. Do a thorough research and consult the relevant authorities before you make the final call.
