Insurance renewal and extension

RickyB2000

Hi,

Sure this has been asked but couldn't find an exact match with a forum search. My home insurance is up for renewal, standard policy. We are planning an extension this year (plans in but not approved yet). Should I be looking for a policy that covers me for structural works and being out of the house more than 30 days now? Or should I get a standard policy now and worry about upgrading it or getting a temporary policy to cover just before the building works begin? Obviously exact dates and even if we will get permission on what we have submitted are unknowns right now (though it should get approved judging by neighbours extensions).

Any thoughts on what is best?

paddyandstumpy

Why not call the insurer you're considering taking a policy with and ask them if they'll cover structural alterations with over 30 days unoccupancy?

If you worry about it when you need to, you could find yourself in a position where the holding insurer says no, forcing you to cancel (paying fees to do so) and then taking another policy out, at which point you'll still have to call and check if they'll accept building works.

A Broker may be your best bet for this as they'll do the legwork for you here.

Just avoid Swinton.

RickyB2000

Thanks

I dont have a preference really who insures me. I usually go for lowest price where the policy terms are relatively loose (or they don't ask to many specific questions and the policy doesn't refer to specific requirements). More out of paranoia that I will make a slight mistake and invalidate the policy.

I will ring my existing insurers on Monday and see what they say. I did try a price comparison site but it brought back like 3 policies suggesting I need to ring lots of providers. In this case I think as you say a broker is the way forward. Anything in particular I should look out for when picking a broker?

paddyandstumpy

Only that the name Swinton isn't above the door! ��

Try your local high street one, they're the kind who treat you as a customer and will fight for you and fight to keep you.

The bigger the Broker, invariably the poorer the service as they become numbers driven rather than service driven.

Most mainstream insurers via brokers will accommodate building works, but if you're moving out they may restrict to buildings only for the duration.

RickyB2000

So I called my existing provider today and they said to call just before works start and they would add a number of endorsements / restrictions (around theft, vandalism, escape of water etc). So that seems OK (waiting for them to send more details).

In the small print of the policy booklet it states that they won't cover subsidence or accidental building damage caused by structural alterations. Should this concern me? Or is this usually covered by the builders insurance?

RickyB2000

Any further thoughts on these questions and what I should be asking the insurer. As I said they were like yes we will cover you and put some exclusions on but didn't really probe me on the extent of the building works or anything at all really (not even value). As I said the policy doesn't cover for accidental so I assume if the builder knocked half the house down while knocking through a wall I wouldn't be covered in my policy. What sort of things should I be asking them to make sure I am covered adequately? Or what should I be asking the builder? Or should I be getting some sort of additional rennovation style insurance on top to cover where my policy doesn't?