Conversion Insurance

Get the cover you need at a price thats right.

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Insure a property that you will be living in whilst it is being converted:
Insure a property that is unoccupied during conversion:
Insure a commercial property that is to be converted:

	Extension, renovation & Conversion insurance.		Full cover at excellent prices.
	Let property cover availble.		No application forms required.
	Cover available for unoccupied property.		Non standard construction? Not a problem!

Conversion Insurance - an insurance package to give you complete peace of mind

When you take on the project of converting a run-down building into one fit for habitation (either for youself and your family or for tenants), you are taking on a whole package of risks and perils. At first sight it might appear difficult to know where to start insuring them all. Indeed, if the property is to remain unoccupied for a month or more - as it almost certainly will, for all but the smallest of conversions - your current home insurer is unlikely to be able to help. Fortunately, there is specialist conversion insurance or unoccupied insurance policies on the market which could provide just the package of all the various insurances you are likely to need.

So what are the principal risks that would need to be covered if you have bought a unoccupied property and intend to embark on a conversion project? Here are some of the main headings offered in a typical conversion site insurance plan that needs to cover both the existing and new buildings and the land on which they stand:

Period of over - for most conversions or building renovation projects, a 12-month period of cover might suffice, but remember that even the most carefully planned and managed projects are apt to over-run. By choosing a 12 month renewable policy, protection of the site against any public liability can start as soon as your purchase contract is exchanged, the existing buildings have immediate cover and cover for the new works start as soon as they begin to progress;

Cover for the existing building - normally, you would want all-risks cover for the property purchased, including any damage caused to it as a result of the conversion or extension works. This would also include cover (typically of around 110%) of the "professional reinstatement cost" if there is a total loss of the existing building - in other words, insurance cover for the actual cost of rebuilding the existing buildings;

Conversion works, temporary structures and materials - as the value of the conversion work done on the site increases, then so this too needs to be insured. Once again, the new building works, together with any temporary works needed for the conversion, are usually insured on the basis of a "professional reinstatement cost" - the cost of redoing all the conversion work to date, in the event of their total loss (a typical level of cover would be 125% of the professional reinstatement costs for the new works). Included under this heading, you would also want to insure against theft, loss or damage the materials, fixtures and fittings delivered to the site for incorporation into the conversion works;

Plant, tools equipment - any plant required for work on the site, together with other equipment and tools can run into many thousands of pounds. Whether these are your own, hired or owned by your employees working on the site, all will need some protection against the risk of theft, loss or damage;

Employer's liability - you will require insurance against any claims brought against you by employees who suffer any injury or harm while working on your conversion site. UKinsuranceNET have a range of landlords insurance policies that not only provide this cover but they can also be converted to a let insurance plan when the renovations are complete.

Public liability - a child injured while straying onto the site or equipment that damaged neighbouring property are examples of ways you could be liable for third party claims. Under this heading of the conversion insurance package, such claims would be met by the insurance cover;

Legal costs - a conversion project can involve a whole set of inter-connected relationships between local authorities, suppliers, builders merchants and contractors. Legal and contractual disagreements can occur and you would want to ensure that funds are available to instruct your own legal advisers if necessary;

Personal loss and injury - personal possessions you need while living on the site temporarily or elsewhere might not be covered by your existing home contents insurance and so a conversion insurance package would usefully include some measure of protection against such loss or damage. Similarly, many conversion insurance packages also provide a basic level of cover against the risk of you or your family being injured during the period of the building works.