Builders insurance

LarryR

Hi

I'm about to do some work on my property and was just wondering if anyone has come across any sort of insurance that covers me if, say, the builder went bust part way through the job, or some other unforeseen issue that could leave me substantially out of pocket? Don't want to be negative, but you do hear horror stories 😱

Thanks

phill99

You need to e doing your own Due Diligence on the builders that are doing the work. is it a Limited company? If so, you can run a credit check on them, search at companies house to see if the directors have been barred or have any CCJs against them.


If the builder is self employed, again you can do a credit check, and see if they have any CCJs etc.

king132

https://thehomeinsurer.co.uk/renovation-insurance-2/

Mistral001

A builder going bust half way through the build will cause delay and disruption but as long as you do not make any up front payments your exposure to great financial loss will be limited. You may have to pay more though as usually only the smaller and less well-established builders will ask for up front payments.

You might have a look at getting a building warranty company, such as NHBC, involved. Their cover is best known for covering defects in the event of the builder going bust after completion, but their cover also includes for the builder going bust before completion I believe.