What is renovation insurance and do I need it?
When your home is undergoing building works, whether it's creating an open plan kitchen, extending outwards or even adding an entirely new floor with a loft conversion, unforeseen issues can arise and whats worse is that your home insurance might not cover you. That’s where 'renovation insurance' comes into play.
What is Renovation Insurance
Renovation insurance is a type of policy specifically designed to cover the risks associated with changes and upgrades to your property. This insurance is different from standard home insurance because it caters to the unique risks present during the building process.
What Does Renovation Insurance Cover?
Typically, renovation insurance covers physical damage to the structure itself, whether from fire, storm, theft, or accidental damage. It can also provide liability coverage if someone is injured on your property during the renovation.
If you have to move out during the works the insurance can also cover you for the home being unoccupied.
Lastly, it can cover you incase of damage to a neighbours property.
Why Consider Renovation Insurance?
Building a home extension is not without risks. Issues include structural damages, unexpected delays due to weather, or even simple accidents that cause significant injury or property damage. Whislt choosing an experianced builder such as us will help minimise risk, there is always some risk and its a simple and cheap way to mitigate that risk
The primary benefit of renovation insurance is financial protection. Your home extension or loft conversion involves considerable investment, and having the right insurance in place protects this investment against most unforeseen events. Moreover, it provides peace of mind, knowing that both the assets and persons involved are protected.
Won't the builder have insurance?
A truested builder should have insurance which will cover their work, tools and cover people at the site however there are nuances which are not covered. There is also no cover for your belongings in the event of theft or the house being unoccupied. Essentially this level of cover replaces your normal household insurance during works.
What to Look for in a Policy
Coverage limits are crucial—ensure they match the scale of your project. High deductibles might reduce premiums but increase out-of-pocket costs if a claim is necessary. Be wary of exclusions and limitations that might affect key aspects of your renovation.
Look at other customer reviews and the ease of dealing with claims, in addition to comparing premiums and coverages. Consulting with an independent insurance broker can provide insights and recommendations tailored to your specific needs.
Lastly
Understanding and securing the right renovation insurance is a good step for anyone undertaking building works. It safeguards your interests and provides a safety net against the unpredictable.








