How to build insurance into the plan
Posted on: 23 October 2013
If your home is undergoing building work, you’ll be well aware of all the issues to consider – from planning permissions to coping with the dust! But have you thought about insurance?
People often only contact their provider once work has taken place, especially if the value of their property has increased. But what if something unexpected happens during the project? Like theft from the worksite or machinery breakdown. A contractor would not necessarily be liable for such expenses as it’s the homeowner’s responsibility to insure works undertaken on their home. Despite this, relatively few insurers offer such policies, so getting the right cover can be tricky.
In answer to this, Home & Legacy has developed a distinctive building works policy, designed to offer protection against loss or damage during refurbishments or extensions. The policy lasts for the duration of the works and can be tailored to suit your individual project.
And it's not just major works where a policy might be needed, as Home & Legacy's Underwriting & Product Manager, Adrian Ewington explains:
“Even on something seemingly straight-forward, like a kitchen refit, insurance needs to be built into the overall project plan. Appliances, cabinets and tiles can cost thousands and these materials might be stored for weeks while the project gets underway. Under a regular household policy, these items would not necessarily be covered until they are fitted in. With Home & Legacy's Building Works policy these items would be covered as soon as they are in transit from the supplier.
Home & Legacy’s checklist for major works
- Begin with a blueprint – A designer can put your vision onto paper
- Choose contractors carefully – Get recommendations & don’t be afraid to interview
- Check the calendar – Arrange works around the weather & family events
- Get your paperwork in order – Including your Building Works Insurance
- Finalise your household arrangements – From storing furniture to overnight hotel stays
If you're planning any renovations and would like to discuss your insurance needs, speak to a dedicated Home & Legacy advisor on 0330 102 1863.