home insurance when property being refurbished

matt_boro

I am about to purchase a property, but will not be living in it permenantly for about 2-3 months while I refurb it.

Will this affect the home insurance required??

poppysarah

Probably. You'll have to discuss it with them.
Not telling them will result in you not being properly insured.
They may want to see a copy of the contract if you've got builders doing it.

m_13

We had to change our policy when were having an extension built as our insurers pointed out that we had strangers in our house so our theft cover was reduced to forced entry only until it was finished.

You can get specialist property renovation policies but most say you have to use the JCT contracts with the builder so they take on joint liability. We tried to get a builder to sign the JCT contract (which we had purchased, not cheap) and he just laughed. The same builder then tried to get us to pay up front so he could finish off his previous job. As he walked out the door (after we refused to part with any money other than on the staged payments we wanted) he shouted back 'you'll regret this' but in fact we didn't!

simple2rent

Your policy will almost certainly have a cluase regarding prolonged periods of absence, you should notify your insurance company to ensure your cover is maintained.

Millburn_farm

Most insurance policies expect the property to be inhabited; with a maximum allownace for being empty set at about a month; I struggled whilst doing up my house so that it was fit to rent out

You need to talk to a good broker; explain the situation, with work-men in and about the property isn't being left unattended; just not lived in; if I remember correctly it was only pennies difference in price

bigw81

Hi - go to your broker and ask them for Halifax insurance - you'll be covered while the property is completely unoccupied and while work is being carried out - its one of the few providers who offer this a) without the premium going through the roof and b) without the excess being hiked up - some insurers tell you they'll insure if the property is unoccupied, but in the small print the excess for any claims is as much as £5000 (ie the part of the claim YOU have to pay!). Go see your broker, ask for Halifax, and he can key it online for you. Sorted.

sarah77

Hi,
We will be in the same situation when we complete in a couple of weeks. We obtained a few quotes through a broker but the majority only allowed the property to be vacant for up to 30days, after that time certains terms and conditions kick in. I got a good quote off tescos own brand, allows the propertly to be unoccupied for up to 60days and they have 3 different levels of cover from value to finest. However im not sure how building work and having contractors in will effect the insurance so maybe professional advise is a good option.