Renovation insurance is designed to help protect your home in the event of building work and renovations, as this can leave properties significantly more exposed to risks than standard buildings insurance enables. Identifying these gaps before starting work saves from monetary catastrophes when things go from bad to worse.
Notify Your Insurer First
Get in touch with your insurance before any work commences. These language changes need to be written into the policy which you may have to purchase stand alone coverage for. Not telling them — at best will mean they probably won’t pay out in the event of making a claim because you could have voided most if not all your policy, leaving yourself without any protection when you’re extremely vulnerable.
Builder’s Insurance Essentials
Make sure your builder has public liability insurance (at least £2 million) and employer’s liability cover. Order certificates and verify they are current — if the policies have expired you get zero protection. This pertains to damage inflicted on your property and any staff or guests that suffer injuries.
What Standard Policies Miss
This is common practice with home insurance policies, but a typical exclusion from many standard Buildings Insurances is damage caused by building work. The theft of materials or concessions and accidents involving contractors can also be excluded. This is the gap that renovation insurance fills, with cover from stolen fixtures to accidental damage during construction. When you need Exeter Builders, contact www.silverferndevelopments.co.uk/exeter-builders/
Valuable Items Protection
It is advisable to secure or remove any valuable items prior to work. The damage done by the dust, vibration and travelling extra sets of feet is irreparable in some ways that insurance claims can never recover.
Document Everything
Take pictures of the condition your house is in before any work begins. This evidence is used to establish pre-existing conditions and settle disputes on responsibility of damage.
The Professional Difference
The good builders get it, they know the legal obligations around insurance and make sure you have ample protection.
The safest and smartest investment in any renovation project, proper insurance planning costs pennies relative to potential damages.