An overlooked aspect of refurbishing your property is making sure you have the adequate insurance in place whilst the work is being carried out. There are two clear areas you need to double to check to make sure the correct cover is in place.
1 Your builder’s cover
If you have employed a 3rd business/tradesmen to complete works on or within your property then you need to make sure as part of the contract that they have the relevant commercial insurance and liability cover. This protects you and them, should an incident occur that damages your property/contents or injures you or another person at your property.
2 Your own cover
Home insurance during building work is essential if you want to be able to claim for an incident during the phase of work. The insurance terms and conditions are more specific than a standard home insurance policy, but are clearly outlined to make sure a consumer knows what can and can’t be claimed for. Specialist insurance companies will be able to offer renovation insurance that covers the term of the building works and then converts to a standard policy once you inform them that the works are completed.
Whether you are having large-scale building works or smaller renovation work done, we can cover a wide variety of scenarios.
When should I inform my insurer of building works?
You need to inform your insurer of any changes you make to your property, even if they are simply cosmetic alterations. This includes tasks as minor as painting and any kitchen/bathroom replacement that takes place.
It is particularly important that you inform your home insurer of any structural, electrical or plumbing alterations to the property, to ensure the validity of your home insurance policy in the event of damage during this time.
3 Months Ago, Monday, October 2, 2017, 13:22:44