Insurance – Renovation/Conversion

Protect your project against any eventuality by putting insurances in place before work starts

Insurance--Renovation Conversion

What do I need insurance for?

Insurance protects your build against theft or natural damage and covers liability claims against you for accidents and injuries that could occur on site.

What are the different types of insurance?

Building insurance – covers risks to the existing building.

Public liability insurance – covers claims brought against you by a third party or member of the public.

Employer’s liability insurance – covers any subcontractors you employ that are working on site.

Personal accident insurance – insures you against any accidents on site.

Legal expenses cover
– provides finances in the event of disputes or other legal issues that may arise.

Contractor’s all risk policy (CAR) – covers the building site and its contents throughout the project against, fire, theft and other incidents.

 

Do I need to have them all?

Insurance isn’t a legal requirement, however it is strongly recommended. Thankfully there are a number of companies who provide specialist self-build insurance that incorporates all of the above together.

How much will it cost?

Prices vary, but expect to pay about 0.5 per cent of your build cost.

When aren't I covered?

Where there is an existing structure forming all or part of a renovation, conversion or extension project buildings insurance does not automatically provide cover for the existing building. This is because buildings policies carry a standard clause that excludes cover on a property whilst it is undergoing alteration, renovation and sometimes even maintenance.

In addition Buildings policies will not normally provide cover on a property that is being left uninhabited for more than say 30 or 60 days. If a property is undergoing a major renovation and it is uninhabited during the works for 6 months or so – you are wasting money buying buildings insurance as no one is providing cover on the property.

 

Useful Contacts

BuildStore: www.buildstore.co.uk
Self-Build Zone: www.selfbuildzone.com
Build-Zone: www.build-zone.com
Project Builder:
www.siteinsurance.net
Atkinson Smith/DMS:
www.selfbuildonline.co.uk

 

 

 

 

 

selfbuildfinance2


Useful Tools

firsttime tradefinder mortgagecalc

Latest Press Releases

Latest Products, Services and Tradesmen from our Trade Finder

Expert videos

expert video2 2

Build Archive

trespa-pura-nfc-specified-for-new-contemporary-home

Trespa Pura NFC specified for new...

Discovering Trespa’s high pressure laminate cladding provided the answer to a...
riverside-new-build

Riverside new-build

Steve Clarke and Amanda Boot's ingenious home by the Thames in Surrey rests on a...
an-oxfordshire-barn-conversion

An Oxfordshire barn conversion

When David McLaren started hunting for a new home in rural Oxfordshire, he had a...
all-you-need-to-know-about-skylights

Skylights - All you need to...

As the first skylight manufacturer to have its skylights BSI accredited, Sunsquare,...
a-coach-house-rennovation

A Coach House renovation

Eoin Foyle loves a good party. As the owner of a live-music venue in Dublin, it’s...
where-to-find-a-building-plot

Where to Find a Building Plot

A plot is anything and anywhere – it’s just knowing where, and how, to look A...
a-brooklyn-town-house-renovation

A Brooklyn town house...

You would never guess this house in Brooklyn, New York, is a renovation, let alone...
a-modern-french-home

A modern French home

Vicky Thornton's decidedly modern home was designed to blend perfectly with its...
introducing-terrabase-rustic

Introducing Terrabase Rustic

An innovative, porous paving solution from Addagrip Terraco Ltd   Addagrip, the...
a-radical-remodel

A Radical Remodel

Cat Knightley and Mav Gibbins worked hard to lovingly convert a...