How to protect your project
If something went seriously wrong on your build, could you afford to start again? Probably not, say the insurance experts at Self-build Zone, who explain what to do before work starts
Like Homebuilding & Renovating, Self-build Zone have been helping people with their selfbuild, renovation and extension projects for many years, so we understand the highs and lows of this life-changing adventure. Here we look at two self-build basics that sometimes get lost in the excitement of a new project, and explain how you can save yourself thousands by getting these essentials in place before you start.
DO I NEED SITE INSURANCE?
Whether you are building your home yourself or employing a contractor/builder build it for you, it’s important to make sure both you and your project are covered.
Most people assume that their builder will have insurance to cover a self-build, but they often do not, or only have public liability insurance. Unless you have sufficient contracts with the builder, when it comes to making a claim it can mean a lengthy court case before a claim payment is issued, if at all.
When doing an extension, conversion or renovation you need site insurance to cover the existing structure and the new works you are carrying out.the most common exclusion on home insurance policy is that you are not covered when altering the structure of your home, although many people assume it will be.the real question you need to ask yourself is: if something was to go wrong, could you afford to do it all again?
WHAT DOES SITE INSURANCE COVER?
Site insurance is also known as self-build insurance and covers the project from the moment you purchase the plot right up to completion. Self-build Zone are the market leaders in site insurance and structural warranties for self-builders and we are also the sole provider for selfbuilders for the National House Building Council (NHBC).
We are backed by A-rated insurers and our policy is unique in covering even the existing structures on site. So, whether you’re building a new build, extension, conversion or renovation we can cover the entire site and structures including losses as a result of fire, theft, flood, storm damage, vandalism and accidental damage.
DO I NEED A STRUCTURAL WARRANTY?
Most people, when thinking of a structural warranty, only think of the NHBC or have heard of it because their lender has required it as part of the mortgage. However, there’s so much more you need to know, even if you are not using a mortgage to lend on the build.
If you intend to sell the project in the next 10 years, the lender of the person buying your property will still require a structural warranty. Getting one on completion will cost you significantly more than if you have arranged the warranty before the project starts.