Insurance during construction works

KennyH1

We are about to undertake some major renovations works at home and my current insurer has stated that due to the value of the works, they cannot insure my property. I am struggling to find a specialist insurer who I can take out a policy with.

Has anyone got any recommendations for insurers?

ComicGeek

I used Stanhope Insurance to get renovation insurance about 5 years ago https://www.stanhopeinsurance.co.uk/services/specialist-home-insurance/renovation-insurance/

We moved out for 4 months, and had significant works undertaken. They were extremely helpful in providing a bespoke insurance product to cover our situation.

ritz55

We used HomeProtect in the past for a large project.

maman

I used a local broker from this company

Specialist Personal and Business Insurance | Everywhen

They trade as Finch's in my local area in the south of England. I had a recommendation from my builder who also used them.

I was able to get insurance for 6 months while the house was considered insecure with an option extend if the job was delayed. Once the building was secure (only internal work remaining) then my regular insurer was happy to take me back.

Boohoo

https://forums.moneysavingexpert.com/discussion/6678226/insurance-during-construction-works

Out of interest is your insurance suspended or cancelled during the building works?

Albermarle

You do not say the extent/cost of the building work?

I just renewed our home insurance and it states that any work under the value of £125K is covered by the standard terms.

KennyH1

https://forums.moneysavingexpert.com/discussion/comment/82087637#Comment_82087637

They informed me it will be cancelled. I informed then that i needed to get another policy in place and would then call them to cancel.

KennyH1

https://forums.moneysavingexpert.com/discussion/comment/82088231#Comment_82088231

Unfortunately due to the nature of the works the cost is over £200k. You are allowed to reduce cost by removing items such as painting, decorating and a new kitchen as these are not counted as major works by the insurance companies.

Boohoo

https://forums.moneysavingexpert.com/discussion/comment/82091318#Comment_82091318

Thats not good.

Do you know how this effects your no claims discount?

Also will you have to inform your next insurer that you have had a policy cancelled if asked?

maman

I think 'cancelled' is just an unfortunate turn of phrase in this instance.

In my experience, my usual company just said they couldn't insure me while the major work was done as they didn't offer specialist policies. They gave me a refund for the unused months and told me I'd be welcome back when the work was completed.

Not offering to insure isn't the same as being cancelled in insurance terms AFAIK.

ic

I had this same scenario - its isn't a bad cancellation that ever has to be declared for the question "has an insurer cancelled or declined to insure?"

I went with Towergate, the price was about double that of a normal year - understandable, security was a few screws in OSB boards for many months, and I was forever having to complain about apprentices leaving our keys hanging on the outside of the front door! They also excluded water damage in many circumstances (we were having the roof reconstructed and the house replumbed).

We were also required to have a formal recognised contract in place. They didn't just want the builders four page brief quote and terms. My builder bought a "JCT minor works contract" and completed all the boxes and we both agreed. Its a very standard, industry recognised sensible contract that formally sets out responsibilities. I think it cost him £30 or so to buy.

https://www.jctltd.co.uk/category/minor-works-building