Renovation Insurance
Comprehensive and bespoke renovation insurance covers for homeowners and property developers undertaking building works.
Building renovation insurance protects against loss or damage to your existing structure, liability and building materials from start to finish.
You’ve found your dream home, and now you want to make it your own. Renovation projects can be rewarding, but if something goes wrong, it’s important to know that your insurer has you covered and your investment is safe.
During renovations, many standard insurance policies reduce coverage or even revoke it entirely. At Stanhope Cooper, our expert team collaborates with customers to provide the most detailed and customised building and home renovation insurance. An insurer with experience in renovation-specific policies and claims like us offers you the highest level and quality of cover.
We also offer coverage for any offsite storage units where you may want to store your furniture and fittings.
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Does my home insurance cover my extension or renovation?
Potentially yes – but up to a limit that can change per insurer. Renovations require specialist insurance as they present a higher risk than a standard home. With more work involved, the chances of something going wrong increases. It’s designed to cover against a wide range of risks for as long as the work takes place, including the cost of damages that occur during the renovation process and any injuries that occur to you or your family.
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Is it expensive?
It can be. However, careful consideration should be given to the quality of the insurance product, this is especially important for renovation projects.
When a renovation project goes wrong, it can go terribly wrong, so a number of factors are taken into consideration for costings, including but not limited to:
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- The existing buildings and contents sum insured
- The value of the contract work
- How long it will take to complete the project
- The type of building contract
- The level of public liability cover required
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Why can’t I rely on my builder’s insurance?
If your contractor causes damage to the building, your home insurance is unlikely to cover you.
The builder’s insurance is there to cover their liability however if something went wrong, negligence would need to be proven before your builders insurance policy would react. This can cause huge delays to the renovation and be very costly for homeowner. Renovation insurance, could protect your project in these circumstances and avoid delays or incurring additional costs.
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Is theft or damage of personal items during a renovation covered?
Damage or theft of personal possessions as a result of or during a renovation will not be covered under Renovation Insurance. Renovation Insurance covers the existing structure and the contract works, you will still be responsible for making sure that your personal items are insured with another policy.
Get a quote today
Please complete the brief form below and one of the Stanhope Cooper advisors will be in touch to assist. Alternatively, you can call our experts on 0207 776 9797.
