Home and Property Renovation Insurance
If you are planning work on your home, you should consider investing in a renovation insurance policy. Whether you are planning to do work yourself, or are paying contractors to undertake renovation, extension or conversion work, a renovation insurance policy will protect you from a range of risks and associated costs, should something go awry.
What is Home and Property Renovation Insurance?
When you carry out home renovations, you open yourself to many risks, some of which you might not be aware of. For example, did you know that if your home is empty while you’re waiting to start building works, your Home Insurance policy will almost certainly become void after 30 days?
At Ellis David Insurance Brokers, we strive to provide a personal service and would look at the risks your particular renovation project may hold. However, these are the covers we most commonly offer as part of a Home and Property Insurance plan:
Property Owners Liability Cover. Imagine if you – or the contractors you employ for the work – accidentally knock down a supporting wall in your home and the damage spreads to your neighbours’ properties, or led to the injury of a passer-by. You might think your HNW Home Insurance plan would cover this, but this is almost never the case. Insurers demand that any improvements or adjustments – even the most superficial – are declared and insured against.
Vacant Property Insurance. Insurers can be reluctant to insure empty homes due to the increased risks of vandalism, neglect, and accidental damage such as fires and burst pipes. Unforeseen problems and delays are common where home renovations are concerned, so this cover is strongly advised.
Structural works cover. Insurers differentiate between the types of renovations being carried out. If you know that you’re going to change the structure of your house – for example, by building an extension, it’s essential to have this covered in case something goes wrong. If you’re not sure what constitutes ‘structural change’, ask your broker.
General renovation cover. It might be that you’re not undertaking structural work, but other material improvements to your property. If you’re having a new kitchen or bathroom fitted, it’s likely that the improvements will impact on the value of the property and therefore any rebuild costs. You need to make sure that you have the right protection in place or risk being under-insured.
What information do I need to give my Home and Property Renovation provider?
The premium you pay will vary according to several factors, and the more you can provide about the following, the better-tailored your insurance plan will be to your needs:
Nature of work. This is extremely important. Replacing plumbing, for example, poses very different risks to taking up fitted carpets. What’s more, something that may appear to be a superficial job, can turn out to have surprising complications.
Cost. It may be difficult to come up with an accurate cost estimate – but this is where an experienced broker can help you.
Time frame. Bear in mind that building renovations often take longer than expected, so it’s best to make a generous guess where timing is concerned.
An experienced insurance broker such as Ellis David will be be able to help you get the right renovation insurance policy.
Why use Ellis David for my Home and Property Renovation Insurance?
At Ellis David Insurance Brokers, our experienced team know the right questions to ask to get you a policy that fits for your needs, making sure you’re not spending too much or too little. Our relationships with some of the UK’s top insurers put us in the perfect position to offer to a range of Home and Property Insurance plans for almost any circumstance.