Newbuild or renovation for insurance purposes

villagemadness

Hi there,




Hi there,
Not sure if this is best suited to the insurance section or here. We are in the process of buying a new home. The property in question was originally built in 1954 but was converted from a single storey bungalow into a two storey dwelling in 2015. Planning permission is for a replacement building, but a couple of the original walls were retained so the build was signed off by the council (ie, building regs) as an 'extensive renovation'.


My question is: do we insure the property on the basis it was built in 1954 with an extensive renovation in 2015? Or do we put built in 2015 as most of the property was indeed built then (bar a couple of walls)? Neither seems 100% correct as the property is almost a newbuild, but because it has some original structures it is signed off as a renovation. Indeed, it was a bungalow but is now a two-storey chalet, unrecognisable from the original building.


Any help gratefully received.

davidmcn

Safer to treat it as the original construction date (as I presume that increases the risk for the insurers).

villagemadness

Thanks. That's what I was thinking. Put it down as 1954 and add that it was extended and converted in 2015, as per the building regs sign-off.

AdrianC

Phone the insurer and ask them. It doesn't really matter, anyway.

villagemadness

Hi AdrianC. Why does it not matter? Is ti becaudee the risk is no more or less? I don't really understand how it works...

AdrianC

The insurer are just asking so they have a rough idea of what sort of building is being covered. It's not 17th century... It's basic post-war-generic.

sal_III

Discuss it with the insurer to be sure they are aware of your circumstances and the policy is going to be valid, otherwise you are taking a gamble. It's not a new build, you are using the original foundations (or part of them).