Insurance for properties under renovation
Renovation insurance is essential for anyone planning refurbishment works to their house. However, many homeowners are unaware that they need to inform their insurer of upcoming changes before building work begins on the property. If you don’t, and something unfortunate happens, then it is possible that your insurers will not pay out in the event of a claim.
The level of cover that you need will inevitably depend on the amount of work and the type of refurbishment being undertaken.
Consider the following:
- Structure - What is changing and in what way?
- Time - When is work due to start and finish?
- Contractor - Are you or your family carrying out the work, or are you employing a professional?
- Contractor - Does the Builder have a Contractors All Risk policy?
- Contractor - Have you or are you considering signing a Joint Contracts Tribunal (JCT) contract?
- Cost - How much you are planning to spend (including VAT)?
Not making structural changes but need cover for maintenance and repair work? Find out more about DIY insurance.
Planning home improvements? Get a quote before you start workGet a quote!
Get the right level of cover
Structural changes, such as walls being demolished or extensions being built, will certainly need to be disclosed to your insurer. As well as this you should think of the implications of whether the home is occupied or vacant. If the property is empty before and during renovation, it is likely that the cover available will be restricted to only cover the main risks such as fire, lightning, earthquake, explosion and aircraft as the risk to the property can be substantially greater while building work is ongoing.
You should also check that the total sum insured covers the value of rebuilding your property, as well as the value of contents. Remember to also include any additional sum necessary to cover the renovated part of the house once work is completed.
Protecting people during your renovations
Make sure that your current policy includes public liability insurance, covering you if someone is injured at the empty property during building works. If it doesn’t, then you should perhaps consider taking out a policy which includes this with your home improvement protection. At HomeProtect, we include public liability insurance up to £5 million as standard.
Once your project is underway it’s also a good idea to keep your insurer fully informed of any developments concerning your empty property. This can be crucial in preventing delays if you need to make a claim.
It was a totally hassle free experience and over £200 cheaper than my previous insurer's new quote for exactly the same cover. Saturday, 01 August 2015
Get home renovation insurance before work starts
- Public liability insurance up to £5 million
- Cover available for most circumstances
- UK helpdesk if you have questions
Staff were really helpful and amendments to our policy were dealt with immediately. This company was one of the only ones who would insure our property under renovation 01 August 2015
My requirements were not quite "off the shelf", so was extremely happy with the way the team created the right policy for me 05 January 2015
I am feeling confident that I have the correct home policy for the first time in years - thank you! 26 January 2014