Self-Build Insurance
If you are doing a self-build and need to know what construction insurance you would need in place let us be your 1st port of call. Not only do we have great knowledge of what you need, we can give you a clear understanding of what you are buying, instead of thinking its just an expensive piece of paper.
- Construction insurance
- Contractors Insurance
- Land Insurance
- Site Insurance
Need Insurance? Get in touch today!
Whatever your self-build insurance requirements, please get in touch today for a free no obligation quotation.
If you’ve decided to develop your existing house, build your own house, or build to sell you need to consider every potential problem, from restrictions of land usage to how credible your contractors are. At Construction Insure, we’re here to protect you at every stage, from the architects plans through to the final finished build.
What sort of Self-Build Insurance do you need?
Because there are so many aspects to a self-build, it means there are many stages where things can go wrong. You need to limit your financial and legal exposure to potential problems at every stage of your build with the right insurance cover. For instance, if you’ve purchased land, has your Solicitor checked for any restrictive covenants or absence of easement? If not, these could stop you from making full use of your land and even cause you access complications. Fortunately, we can help you obtain specific policies to cover those issues. If you’re building close to other houses, have you considered the Rights of Light legislation? Being aware that you have to maintain your neighbours right to adequate illumination can save you massive problems during, or even after, your build. You can insure against those claims in the event they do occur. These are just a few of the obstacles that could arise even before the build has begun. At Construction Insure, we have many years of experience in protecting our clients from issues like these. We’ll work with you to help your project go-ahead as smoothly as possible.
GETTING THE RIGHT SELF-BUILD INSURANCE
What do you need to know about your contractor?
Then there is your contractor to consider. Even if you think you’ve found a builder you can trust, you’re putting your future home in their hands. You need to know they have the right insurance in place for everything from third party accident and injury liability to cover for material defects. We advise that, at the very least, you check how long they’ve been trading and that they have enough financial assets to put any problems right, in case their insurance is inadequate. A better idea is to review your contractor’s policies, to make sure that the cost of your self-build will be covered in the event of a claim of any sort. They need to have the right cover in place to cover the cost and length of the contract. Contractors All Risks and Contract Works are policies that will cover most claims. If these policies aren’t in place, you could be exposing yourself to unnecessary disputes later on. We can advise you on every aspect of contractor’s insurance, because, at Construction Insure, that’s what we specialise in.
Other Considerations for your Self-Build project?
Another way of protecting yourself is to ask your contractor to supply a Performance Bond. This will protect you if the builder were to run out of funds, or if there was any sort of business interruption, for instance, flooding. You could also obtain Contingent Cover Liability, which is a JCT (Joint Contracts Tribunal) contract between yourself and your builder. This is a safeguard, acting in tandem with the builder’s own insurance, in case that insurance, for some reason, fails. Another JCT you may need is 21.21, which safeguards the yourself and your contractor for non-negligence that arise during project. Non-negligence claims are for problems that can’t be anticipated, such as subsidence or flooding, but would still need remedial works. We’ve brokered insurance for many self-build projects, so we’re well aware that you’re committing a large amount of money and time to make your dream a reality. We also very aware of the issues that can occur and how to protect you against them.
Other types of Insurance to think about
Once the build has been complete and tools are down the onus is then on you to get unoccupied property owners insurance in place until you have sold it or you have occupied it, either by yourself or with tenants.
As the property is a new build, you will have to get a building warranty in place, as if you are to sell, no one will buy the property unless you have a Structural Warranty / Latent defects policy in place, as lenders will request to see this.
How do you get the right advice?
These insurances for self-build are there to protect you and are not to be dismissed. When doing a self-build, you are dealing with thousands of pounds worth of your own money which you need to protect, so hopefully this site will help you understand exactly what you need and what these products cover you for. We want to help you make your self-build as problem-free as possible. To find out how we can do that for you, please call us on 0203 958 6868 to discuss your requirements.
WHAT OUR CLIENTS SAY
" Comparing like with like plus some lower excesses you have managed to save me in excess of £1500 or approximately 15% on my previous insurer. "
- Hew Stevenson
" We found you to be more thorough, efficient and reasonably priced than our existing insurer. We would not hesitate in recommending you to anyone."
- Zena Nairi LLB (Hons)