Renovation Insurance Policy

Valkyrie888

Following an escape of water in September 2024, I have an ongoing insurance claim. The reinstatement work will be in the region of £200k. 

My existing policy is due to end in March 2025. I have been sent an automatic renewal notice and unsurprisingly the premium has increased three fold. Other insurers do not seem keen to insure the property whilst work is required. I have spoken to the Insurer but they are pretty clueless and just want me to accept the new policy. 

My question is: 

As the reinstatement will constitute a renovation, should there be a renovation policy in place? 

I have spoken with the loss adjuster who has said that as the insurer is aware of the reinstatement works, no additional policy would be needed but I think they are underestimating the extent of the work and the fact that the house is empty due to damage and will be during the remedial work. 

If a renovation policy was required, presumably the insurance company would cover the premium? 

Any relevant advice would be appreciated. 

DullGreyGuy

If you renew with the existing insurer (meaning underwriter) then they will continue to cover the property whilst the repairs are done without a specialist policy required. 

If you decide not to renew with them then you are likely to need a renovation policy. Your current insurers won't cover the cost of it as they have already proposed a solution which is that you renew with them.