Insurance while renovating

kmmr

Hi,

I am about to start a renovation project, where i will be moving out of my flat for a few months.

I wanted to know if anyone could advise on what type of insurance I should have while the work is going on.

I've spoken to my contents insurance people, and they have said that the contents are still covered for 'physical intrusion' theft, (I can't remember the exact term) which means that if the place is left open or unsecured, and thieves just wander in, then they don't cover it. Most of the stuff will be removed anyway. So that is fine - I understand those conditions.

Do I also need insurance for the builders? Public liability or anything?

Any finally, i am making some significant structural changes, and while this is fully supervised by a qualified engineer, and building regs people, there is always a chance of something going wrong. Can I buy insurance against potential damage that could be caused during the work, as well as some kind of indemnity insurance for after the work is done?

Also, if anyone knows which, if any, insurances should be held by the builders and engineers, can you tell me what to ask for, and what I should expect to see.

Thanks so much!

KMMR

Oscar_The_Grouch

Hi there

Builders - Ask for references and for the name of their insurance broker for "Public Liability" insurance. You can then ask the broker to confirm that the policy is current.

Engineers - Again, they need "Public Liability" but also "Professional Indemnity" insurance. The broker can confirm the cover in place.

The buildings insurance will be taken out by the freeholder. What you need to do is speak to the freeholder and let them know what you are doing and ask for their consent. They should inform the buildings insurer, but that's not your problem!!

huckster

kmmr wrote: »

Hi,

Any finally, i am making some significant structural changes, and while this is fully supervised by a qualified engineer, and building regs people, there is always a chance of something going wrong. Can I buy insurance against potential damage that could be caused during the work, as well as some kind of indemnity insurance for after the work is done?

Agree with Oscar.

Judging by your comments, it would appear you may not have contacted the freeholders directly or via their managing agents. Normally you would have to gain their permission for works and they would impose all sorts of requirements and restrictions.

If you have not done this, you should do this asap.

dogbot

Builders should have a contractors policy that includes PL as indicated above.

If they are building something new then them having contract works cover might be a good thing. This covers the subject of the contracts being undertaken - the existing buildings would still be covered by the buildings insurance as indicated by those above. Of course if they are liable for the damage they would still have to put it right, but something else might happen.

As advised above, if the property is leasehold then you must have the freeholders permisson for the works and they will need to notify the buildings insurer. The insuer will impose terms and the sum insured will need to be amended following the works.

There is also something called clause 21.2.1 cover but your architect would know if this is needed or not - it covers any expense liability loss injury or damage to any third party property caused by collapse, subsidence, heave, vibration, weakening or removal of support when carrying out the works. The contract works themselves (subject of the works) are not covered by this. The architect/engineer will know if this is needed already (and if they wrongly advise then they should have professional indemnity cover to cover their negligent advice, as described above!).

kmmr

huckster wrote: »

Agree with Oscar.

Judging by your comments, it would appear you may not have contacted the freeholders directly or via their managing agents. Normally you would have to gain their permission for works and they would impose all sorts of requirements and restrictions.

If you have not done this, you should do this asap.

Hi,

I own a share of the freehold, and I have set up a meeting with the other freeholders. They know of the changes due to planning permission, but I haven't formally got written permission just yet.

I want to make sure I know what I am talking about before the meeting.

thanks for all the advice, I will ask all my relevant professionals! They charge enough for this, so hopefully it is all covered.

dogbot

Good. They key is getting the buildings cover correct - letting them know the work is going on and finding out what their terms will be - they will possibly restrict cover and some of your fellow freeholders might not be happy about that!

amitpat99

Hi. I wondered if someone could help please. I am in the process of building a side and rear return extension to my ground floor flat. It is a leashold property and so am having to get a licence to alter from the freeholder. As part of this he wants a building insurance indemnity to cover the extension for any future problems. I will obviously be getting building regs consent, but he is not happy that this is enough.
I obviously don't want to be held liable for a problem with the building in 5-10yrs time that may have nothing to do with my extension. Is this normal policy to take out indemnity insurance/ If so, how long should I ask for a policy to cover the extension works? The building a s a whole (3 flats including mine) has a single insurance poilcy at present. Is it reasonable to ask the current insurers to provide cover? If so for how long and is this very expensive. I would appreciate some advice! thanks.
amit