Home Renovation Insurance

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Benefits

• Cover available whilst property is empty
• Renovation insurance expert advice
• Full renovations considered
• Cover for malicious damage
• Cover for fire or flood during renovation work
• Convert to other policy after renovation complete

Home Renovation Insurance

The costs and stress associated with moving home may be encouraging more homeowners than ever to renovate rather than sell up, buy somewhere else and move.

If you have a renovation project of your own in mind, however, it is important that you understand the need for home renovation insurance.

Does home insurance cover home renovations?

Take a closer look at your current home insurance or landlord insurance policy and you are likely to find conditions which may affect your building insurance when extending or renovating the property.

Indeed, any works generally need to be cleared with your current insurers. If structural alterations are involved, the insurer may give approval, maintain cover, but increase the cost of premiums. Or they may decline to cover the property whilst renovation work is in progress.

In any event, your current buildings insurance is unlikely to extend to structural damage caused to the existing building as a result of the works and may not provide all or any of the protection needed for your home or let property.

In its place, you are likely to need purpose-designed domestic building renovations insurance – which may also provides cover throughout any period that the property needs to be left vacant and unoccupied.

If you are in any doubt, please contact us for clarification – we will be delighted to help.

 

What is home renovation insurance and what does it cover?

Home renovation insurance does just what it says – it provides protection for the structure and fabric of your home and its contents whilst renovation work is in progress.

Specific elements of cover which are typically included are:

• protection against loss or damage to the existing structure of your home, you can include any new parts of the building once these are complete. (You will need to increase your sums insured accordingly);
• the provision of unoccupied renovation insurance if the works are so extensive that the property is temporarily vacated and left unoccupied for the duration of the renovation works;
• the adaptation of the home insurance while building an extension to suit eventual residence by the owner occupier or as property let to tenants;
• Please note that typically damage or injuries that occur because of the renovation work are typically excluded.

At UKinsuranceNET, our policies can accommodate building works up to £150,000 including VAT.

 

How do I know if it is a cosmetic change or a renovation project?

If you are making cosmetic changes - such as redecorating, laying new flooring or putting in new kitchen units - typically home renovation insurance will not be required but you will need to let your insurance company know.

Changes that affect the structure, internal plumbing, gas pipes or electrical fixtures may typically require insurance for renovation projects. If you are unsure whether renovation insurance is required, please contact us – we will be happy to clarify.

 

Do I need to tell my home insurance or landlord insurance provider about the building work?

Yes. If you fail to let your current home or landlord insurance provider know that your property is undergoing works, typically, your existing cover may typically become invalid – meaning you will be unable to claim on your policy.

Home improvement insurance is designed to cover the additional risks faced by a property undergoing renovation or works.

 

Can I get home insurance during building works if my project has already started?

Yes, this is not a problem. Even if you have renovation insurance with another provider, we may be able to offer you a more attractive price. Please contact us today.

 

Will renovations increase the cost of my home insurance or landlord insurance premium?

As renovations may affect the rebuild cost of your property – which is the cost of rebuilding the property (including surveyor and other fees and clearing the land etc.), then your home insurance or landlord insurance premiums may increase to reflect the extra value of the property.

 

How do I calculate the rebuild cost of my renovated property?

You may need to consult a chartered surveyor – especially if your property is using non-standard construction materials or is a listed building. If yours is a standard construction house, you can use the free online BCIS Rebuild calculator.

 

Can you insure my listed or non-standard construction property during renovations?

Yes, we can! Please get in touch today.

 

What is a JCT contract?

When arranging your insurance for renovation projects, your renovation insurance provider may typically ask if you have a JCT contract in place.

A JCT (Joint Contracts Tribunal) is a contract between you and the builder that sets out the responsibilities for each party whilst the work is ongoing. It details timescales and budgets etc.  You don’t always need a solicitor to draw up the contract for you.

Please let us know if you have a JCT contract so we can make sure you have the right cover you need.

 

Why choose us at UKinsuranceNET?

Carefully chosen, specialist home renovation and extension insurance arranged by us here at UKinsuranceNET may be tailored to provide the cover you need for your renovation project – however large or small.

Not only are our policies competitively priced, but you may arrange this specialist property undergoing works insurance for just as long as you need – as long as the works are likely to be in progress, just three or six months, let’s say, rather than the full 12-month period typically required by other types of home building and contents or landlord insurance cover.