Foster City, CA – October 10, 2019 – Homeowners who spent the warmer months tackling projects around the house are 'fessing up on their renovation fails. That’s according to a new poll from Insurance.com, the leading online resource for auto, home, health and life insurance for 20 years.
Nearly half of the 1,000 people polled say their projects struggled because they had to spend more than they planned for. And in the end, many respondants shared that they weren’t able to finish the job. The survey findings also include:
- 41% spent more than expected
- 39% didn’t finish an important project
- 12% had arguments with their partner or spouse as a result of the renovation
- 5% experienced fire, flooding or other damage due to the work (eek!)
- 2% damaged a neighbor’s property
Insurance.com’s survey also looked at how much different types of renovation fails cost homeowners. Most of those who didn’t finish a project were out by less than $2,000, while most of those who spent more than expected went over budget by more than $8,000. And when it came to how much a renovation fail cost survey respondents, 26% said it was over $8,001.
The survey has more breakdowns of how much people overspent and how they can safeguard themselves in the future. Insurance.com’s managing editor, Les Masterson, is available to share his expertise on how homeowners can protect themselves from common renovation mistakes, and can also expand on the findings from the research.
For more details, you can read an overview of the survey here: https://www.insurance.com/home-and-renters-insurance/contractor-renovation-remodel
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About Insurance.com
Insurance.com is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. Insurance.com is a member of the company’s expert research and publishing division.
Insurance.com is a trusted online resource dedicated to educating consumers on auto, home, health and life insurance, developing relationships directly with carriers to offer consumers comparison rates from multiple companies. Since 2001, Insurance.com’s industry-first online tools, data-based reporting and experienced experts have helped consumers make informed insurance-related decisions, so they can choose the right insurance for their individual needs.
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