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What is Renovation & Conversion insurance?

Self-Building isn’t for everyone and isn’t always a possibility. So if you need more space in your home, a renovation or extension could be the answer. Whether it’s a habitable property that needs extending, or a dilapidated barn that needs the kiss of life, a renovation or extension can provide a cost effective means of creating more space.

In this set of Frequently Asked Questions, we look at the types of insurance you should consider for a renovation or conversion project, and whether your existing insurance might cover your project.

We have produced the SelfBuild Insurance 5 minute guide to our products. In this guide, we set out in straightforward terms the policies that we offer, and how they are designed to protect self-builders and their projects.

This information is provided as a guide only, and if you have any doubts or questions, please give our expert team a ring on 0800 230 0225.

Full details of our Terms & Conditions, Limits, Excesses and Policy Exclusions can be found in our Policy Wordings. SelfBuild Insurance doesn’t offer advice relating to insurance, and you need to ensure that insurance you choose meets your demands and needs.

Q. When would I need Renovation & Conversion insurance?

Q. Will my existing insurance cover my renovation/ extension project?

Q. What does your Renovation & Conversion insurance cover?

Q. How long does a renovation and conversion insurance policy last?

Q. Should I talk to my existing insurer?

Q. Who is your Renovation & Conversion insurance insurer?



 

Q. When would I need Renovation & Conversion insurance?

A. Our Renovation & Conversion insurance is designed to cover projects where your existing home insurance provider can’t cover your project, or where the cover that they can offer isn’t sufficient for your needs.

Your need for Renovation and Conversion insurance depends on your level of involvement in the project. If your involvement is limited to that of a client and all the work is done by your contractor, and they provide all materials, plant and labour, the chances are you won’t require specialist Renovation & Conversion insurance. However, it’s important to have Property Owners Insurance or Home Insurance in place on the property in case of damage or loss during the project.

If you’ll be actively involved in the project, employing people, purchasing materials, hiring or owning plant, having your own tools on site and/ or having your own temporary on-site buildings, the odds of you needing specialist Renovation & Conversion insurance increases. This is especially the case for Employers’ Liability, which is a legal requirement if you’re employing people.

If you’re still unsure if you need Renovation & Conversion Insurance, you can discuss matters with your existing home insurance provider, or give us a ring on 0800 230 0225.

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Q. Will my existing insurance cover my renovation/ extension project?

A. Many Home Insurance policies are designed to cover the property and/ or contents, and can include some provision for building work. However, you’re usually required to consult your insurer before work commences and review your policy before starting.

There are a number of different reasons your Home Insurance might not cover the project, including the value of the renovation/ extension project relative to the value of the existing property, or the extent of the work. You should find out what is and isn’t included with your existing insurance, as depending on your project you may have insurance requirements that aren’t covered by your existing insurer or an appointed contractor.

In this situation, you need to decide whether to proceed without insurance (other than any required by law), or purchase specialist insurance for the work.

If you’re unsure, please contact our team on 0800 230 0225.

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Q. What does your Renovation & Conversion insurance cover?

A. Our cover is designed to offer a breadth and depth of cover that’s rarely provided by home insurance companies, including:

Public Liability: Your liabilities should someone be killed or injured while on your self-build site.

Employers’ Liability: Your liabilities should someone you employ be killed or injured while working for you on your site.

Contract Works: This is the value of materials and labour (including VAT as appropriate) that is being spent on the extension/ renovation.

Contractors All Risks: An alternative name for Contract Works.

Tools: The cost of replacing stolen portable tools that are owned by your employees.

Personal Belongings: The cost of replacing your belongings stored on site whilst you complete your build.

Personal Accident: A sum of money should you suffer a permanent disability, such as the loss of limb, or death while on site.

Legal Expenses: Up to £50,000 of legal costs arising from contractual disputes between you and your contractor, utility companies, or the removal of squatters from site during the course of the build.

Buildings: The cost of repairing or replacing the finished property (valid for 3 months following completion).

Contents: The cost of replacing contents within the finished property (valid for 3 months following completion).

Materials: The cost of replacing materials you own that are stolen from your site.

Hired-in Plant: The cost of replacing and repairing Plant that you have hired, including hire charges that you may be liable for.

Owned Plant: The cost of repairing or replacing Plant that you have own, and that is stolen or damaged.

Temporary Buildings: The cost of repairing or replacing temporary buildings, such as portakabins, that are damaged while on site.

Each of these covers is discussed in more detail in our What is insurance for self-builders FAQ page.

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Q. How long does a renovation and conversion insurance policy last?

A. It depends. A Renovation & Conversion policy is designed to last from the start of construction through to completion. Every project is different so you have the option of 3, 6, 9, 12, or 18 months of cover. If you have a plan or schedule for your Renovation & Conversion project you should be able to determine how long construction will take and therefore how long a period of cover you need.

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Q. Should I talk to my existing insurer?

A. You should contact your existing insurer before commencing any work, and also at the end of the project, as you’re likely to have altered the structure and/ or value of the property, and your insurer will need to be made aware of the changes.

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Q. Who is your Renovation & Conversion insurance insurer?

A. Our Renovation & Conversion Insurance insurer insurance policy is provided and underwritten by Zurich Insurance Plc.

We believe that partnering with an insurer as recognised and trusted as Zurich means that you can be confident that in the event of a claim, you won’t be left worrying about whether the insurer is reliable. This Zurich backed product is exclusive to SelfBuild Insurance, and cannot be bought elsewhere.

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