If you are planning to renovate your home, you might be wondering whether you need insurance for the project.
When you don’t need additional cover
If your renovation project is minor and does not involve any structural changes, such as redecorating, painting, tiling or installing new flooring, you might not need additional cover. However, you should still inform your home insurer about the work, as it might affect the value of your home and contents. Some home insurance policies have a minor building works clause that allows you to undertake light works without affecting your cover, but it is always better to check with your insurer first.#
When you do need additional cover
If your renovation project is major and involves structural changes, such as an extension, a loft conversion, a basement excavation or a kitchen refit, you may need additional cover. This is because your existing home insurance policy might not cover you for:
Damage to your building and contents during renovations, including fire and flooding
Subsidence or a landslip during the works
Damage to neighbouring properties (caused by the renovations)
Theft of building materials, tools and equipment
Theft or damage of your personal possessions
The property being unoccupied for more than 30 or 60 days
Public and employers’ liability cover in case of injury during renovations
Legal cover should you run into dispute with the tradespeople completing the work
Won’t my construction company/builder cover the insurance?
While most reputable builders have their own insurance which will cover your home in the event of accidental damage, unfortunately this won’t cover you for all scenarios. Many include certain exclusions and limitations which could cause you problems if the damage you experience falls under these.
How much does home renovation insurance cost?
The cost of home renovation insurance will depend on various factors, such as:
The value of your property and contents
The value and duration of the works
The type and complexity of the works
The level and quality of cover you need
The insurer and policy you choose
If you are not sure about what's covered in either policy, Speak to Mark at Lion Insurance, who is happy to help.
01622815011
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