If you’re involved in a project such as Renovation, Conversion or Extension of a property (or even a New Build), don’t fall into the classic mistake that your Builder will cover all insurance eventualities should something go wrong.
It is also extremely unlikely that your own home insurance will cover any such project.
The Builders insurance policy will generally cover their own liabilities on the project (not yours) plus their own plant, equipment and tools.
Let’s look at an example to highlight a possible scenario.
Assuming over a weekend someone (or even a child) goes onto your (building) site and injures himself.
On the basis that it is not the builder’s responsibility or fault for the accident then you could be held responsible.
You could be sued by the injured party if it was evident that you were at fault and nowadays most people appoint a ‘no win no fee’ solicitor to do that.
Building Site Insurance covers this eventuality (eg., under Public Liability Insurance) and the insurance policy could be extended to cover:
- Standard home insurance will not cover an unoccupied property.
If you’re not living in the property or the property is vacant for more than 30 days, insurers will count it as ‘unoccupied’. To ensure that you’re adequately covered should anything happen, you will need unoccupied property insurance. It’s possible to get 3, 6, 9 or 12-month’s cover, depending on your unique situation. - The risk for insurers is higher
As you won’t be living in the property, you won’t be there to see to any of the problems that may arise. The boiler could burst and flood the house. Someone could also accidentally drive through your front wall. Your insurer will take all of these aspects into account. - You will need to check the property
For your insurance to be valid, you will need to check on the property every 7 – 14 days. - You will need to have security measures in place
Your insurer will request that the property have adequate security measures in place. This will help guard against illegal entry or burglars looking for an easy target. - Don’t forget to turn the gas and electricity off
As the property will be unoccupied, you must ensure that the gas and electricity are turned off at the mains. An exception would be if you need to maintain heating. - There are three levels of unoccupied property insurance
Like most types of insurance, you can buy different levels of cover depending on what you require. Titan Insurance offers 3 levels of Unoccupied Building Insurance. All of them insure up to £2 000 000 Property Owners Liability. This covers you if any accidents or loss happens to a third party such as a person or property eg., like the property next door.
There are other insurances you could take out such as insuring the contract value or project in case of fire or an insurance backed guarantee to give you further protection.
Try not to cut corners on your Building Site Insurance because it could leave you exposed financially. It is a well-known fact that accidents do happen on building sites.
You don’t want your dream project turning into a nightmare.
With over 30 years’ experience in this field, Titan Insurance offers quality products for all types of construction projects at easily affordable prices. For more information or further guidance, get in touch with our Construction Team on 0207 731 3700 or send us an email.
