If you are looking to extend or renovate your home on a small or large scale you may still need to have your own insurance for the existing structure, including liability cover at a minimum. Sometimes the obligations of the contract require you to be jointly insured with the contractor on an all risks basis.
The requirements do vary from contract to contract and getting the right cover is vital to ensure that claims are covered, protecting your budget and ensuring work can get back to normal as soon as possible following an insured loss.
Finch have a team of specialists who are experienced with obtaining the correct policy for your requirements and contractual obligations. We have options to cover existing structure only, including public liability and can extend this to being joint insured with the contractor. If required this can be tailored to cover specific contractual obligations as these do vary.
A member of our experienced team will take the time to understand the specific needs of your home renovation project, obtain quotations from a panel of insurers and finally recommend the relevant policy and cover options available.
So, if you are looking into a contract work or large scale domestic renovation project and need to discuss your insurance obligations the construction contract has placed upon you, why not give us a call today?
Private Client Insurance Specialist
About Property Renovation Insurance
We have access to insurance policies to protect you against risks which you may be exposed to during the carrying out of the restoration and renovation building works.
In addition to being insured for physical loss or damage to your building whilst it is undergoing work, we can also provide insurance to protect you against other forms of risk such as legal liability for accidental injury to persons (other than employees). Some contracts require being jointly insured with the contractors as we explain below.
Joint Contract Tribunal (JCT)
The Joint Contract Tribunal is a company which creates and offers a range of standardised forms, guidance and other documents that set out the obligations of both parties in a construction process. This covers who does what, timescales, location, costs and all obligations for both parties.
One of the obligations is for the customer to have appropriate insurance in place. Although the requirements vary, there is a need for the customer to insure the existing structure of the property individually, or jointly with the contractor.
Very often, you will need to advise your main home insurer that you are having works done and this normally involves cover being restricted amongst other changes, which your insurer should advise you of fully. In the case where a JCT clause requires joint insurance your home insurer may not be able to assist.
Our private client insurance specialists are experienced at seeking the right cover to ensure the relevant JCT insurance requirements are in place before work begins.
The Finch team are experienced with multiple insurance contracts, including high net worth persons requiring high value contract works cover and where individuals have not got the cover required from their existing insurer.
The team of people aim to fully understand your individual needs and as a result recommend the insurance product suited and tailored to you. Adding to this is our personal service we offer by working with one main person who understands your cover intimately you will see why some clients continue to insure through Finch through the works and beyond.
To find out more about our property renovation insurance policies, contact us today.
Private Client Insurance Enquiry Form
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