Home Renovation Insurance

If your property is left unoccupied for more than 72 consecutive hours during the renovation, cover will be limited to Fire, Lightning, Explosion and Aircraft impact (“FLEA”) until someone moves back in. 

During this time, there is no cover for escape of water, flood, storm, subsidence, landslip, heave, or theft. 

This will likely depend on what is your biggest priority. The kitchen seems to be a popular answer to this question. The logic here is that if you find yourself short on funds, the most important part is done, and other parts can be revisited.   

Renovating your bathroom can improve both the style and functionality. This could even mean adding a new feature, like a walk-in shower or freestanding bathtub.  

Before you start thinking about redoing walls and floors, assess the condition of your property’s foundation, then assess the condition of your electrical and plumbing systems.   

There are many reasons why people choose to renovate their properties.

Here is a list of common reasons:  
– Your property is deteriorating either structurally or aesthetically  
– You’re getting ready to sell  
– You want to stay in the property for a long time  
– Your needs have changed – you could need more space, or specific facilities  

1) Planning and design  
2) Demolition (if applicable)  
3) Framing and rebuilding  
4) Plumbing, HVAC, and electrical systems  
5) Walls  
6) Flooring  
7) Fittings  
8) Furniture, decorations and appliances  

Even though these terms are often used interchangeably, there is a difference. Refurbishment generally refers to increasing a property’s value, like installing new features in a room. Renovation refers to restoring something to good working condition and/or physical appearance, such as an old building with a roof in a state of disrepair.   

While there are plenty of opportunities to make money from property renovations, there is always a risk that your investment will not pay off. This could be either that the renovations did not add as much value as initially expected, or that many people who take on renovations overspend on the project.   

One method is to look at the prices of similar properties in your area and their condition. If you take the purchase price of the property plus what needs to be spent on the renovation, then compare that to the value of similar properties in the area, you get a ceiling price for what can be spent on the renovations. 

Many people that have taken on a renovation project say that every task takes twice as long as they initially thought, especially when doing it yourself, and that much of the time spent is preparation work rather than actually doing renovation tasks.  

– Foundation repair  
– Roof repair  
– Hot water heaters  
– Water damage  
– New pipes/plumbing  
– Heating 
– Mould removal  

Checkatrade estimates it will cost between £76,900 and £138,800 to fully renovate an average three-bedroom house in the UK.  

If there are parts of the renovation you want to tackle yourself, research is key. Don’t rush into any decisions or actions. There are many resources available, including online, that you can take advantage of. However, if you’re unsure, we would recommend contacting a professional so that you and your property are protected.  

It depends on the size of the property, but if we take an average house in the UK, a standard home renovation project can take approximately 16 weeks from start to finish.  

It’s completely your choice, but properties decay over time. Timely renovation can save on more costly repairs in the future. In general, if the property is in a good condition, it should ideally be renovated approximately every 15 to 20 years.  

We would recommend doing all painting after the major structural work is done, but BEFORE new flooring or carpet, as floors will be the last stage. Your brand-new carpets or flooring can quickly be ruined by paint, dust, and the constant moving in and out of tradespeople.  

Renovations include any project involving building work or structural alterations inside your property boundary. That covers: 

– Extensions 
– Loft conversions 
– Kitchen and bathroom refits 
– Rewiring and new plumbing 

If the total value of the work is over £20,000 (including VAT), you must tell us before work starts. This applies regardless of whether you’re living in the home during the renovation or not.