Phone: +44 (0)20 8943 5333
When refurbishing or extending your property it’s essential to ensure that your existing home insurance company is able to include your building works.
Extending and renovating your home is still a popular choice for home owners despite the ongoing recession. Some areas are more active than others and in Richmond Borough, West London most residential roads have at least one building project in progress.
If you are considering a building project it’s essential that you speak to you existing building insurance company to find out what and if any, cover they will be prepared to provide for your home.
Typically an ordinary home insurance company will provide minimum if any insurance for renovation and building works in addition to the existing rebuild value. However it’s highly likely that the cover will be reduced to basic FLEA cover (essentially only fire cover) rather than cover for Theft, Flood, Storm, Escape of Water or Subsidence, especially if your home is unoccupied.
Without renovation Insurance the risk and exposure is split between both the home owner and the builder leading to serious gaps in cover and less control of the quality of the overall insurance cover. Therefore the solution is to take out a Renovate Policy, which will provide the correct level of insurance to cover your home whilst the renovation project is in progress.