According to insurer esure, about 2.8 million people a year plan to hold a bonfire party at home but research from Churchill Home Insurance reveals almost two million British homes have been damaged as a result of a firework, with each incident costing an average of £307 to put right. An Allianz representative said: "Most household buildings and contents policies will provide cover if your property or possessions are damaged by a bonfire or a stray firework. However, people with a non-standard property, such as a home with a thatched roof, may have additional restrictions on their policies and policyholders should check with their insurance company."
It will also be in the small print of most household policies there will be a ''duty of care'' clause, essentially it would mean that you would have to prove you took proper precautions when lighting a fire or setting off fireworks. Claims would be affected, for example, if you used petrol to light your fire, or set off fireworks too close to your property.
It is also wise to have some idea of what the cover limits are on your policy. Any damage to a neighbour's property would be initially covered by the neighbour's insurance, but if the neighbour could show that you had been negligent in causing the damage, then would your policy cover it? Enables IFAs can help you make sure you have the right cover for you.
Issued by: Enable Independent Financial Life Planners • 25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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