Renovating your property, whether adding an extension or simply upgrading windows and doors, is a significant financial investment that deserves protection. Building Works Insurance, also known as Renovation Insurance, safeguards your property, contents, and even the work in progress from potential risks during construction.
What does Building Works Insurance cover?
Insurance for building works ensures your property is protected for the duration of the renovation. It’s designed to cover the extra risks that come into play when you’re undergoing a building project. It typically covers:
- Accidental damage
- Damage to the structure of the property
- Damage to the contents, including through fire or theft
- Theft of the building materials, tools and equipment
- Damage to any neighbour’s property as a result of the work
- Public Liability
- Legal Expenses
- Alternative accommodation
FAQs
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Does home insurance cover renovations and other building works?
Home insurance policies generally do not automatically cover renovations and may have limitations or exclusions for work conducted on the property. Typically, standard home insurance policies only provide cover for basic renovations, such as painting and replacing fixtures.
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How much does building works insurance cost?
The cost of building works insurance varies widely depending on factors such as the type of project, its value, the duration of the works, and the coverage needed.
With Lansdown, you can get an instant quote online for your specific requirements. Click here to get your building works insurance quote.
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Do I need to notify my insurance company of building works?
You need to inform your insurance provider of any renovations that:
– Add value to the property – i.e. adding an extra bedroom or bathroom and if you are planning to replace your windows or doors.
– Major structural works – extensions and loft conversions
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What insurance should my tradespeople have?
Before hiring a contractor, confirm that they have adequate insurance:
– Public liability as a minimum
– Contractors’ Works insurance, where applicable
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Am I covered if I’m doing the work myself?
Home insurance typically provides limited or no coverage for DIY building works, depending on the scale and type of the project. So, as tempting as it is to give a job a go to save some money, if it’s a job that needs a qualified professional and you take it on and cause damage, you’re unlikely to be able to claim.