What is renovation insurance?
Renovation insurance is a specialist form of home insurance that's specifically designed to provide protection for properties that are in the process of being restored. cover home insurance cannot cowl the variety of eventualities that may occur as a matter of routine during home renovation –such as the property being unoccupied for more than a month, or the property being tougher to secure owing to intensive building work. There is also the crucial issue of public liability insurance – even if you're using a building contractor who has their own public liability insurance, you'll still need your own public liability insurance so as to protect you if your building work causes injury to somebody or damages an adjacent property.
Choosing the correct renovation insurance
It’s easy to get caught up within the excitement of remodelling a property, however it’s better to be safe than sorry when it involves selecting the right home renovation insurance deal. Choosing a comprehensive renovation insurance policy can enable you to focus on your project without fear regarding financial implications if things go wrong. A good renovation insurance policy might include options such as:
- Public liability insurance – some insurers supply this up to £2million, which might be helpful if you're having intensive building work done that might have an effect on nearby residents
- A selection of cover choices depending on whether or not your property will be occupied or unoccupied throughout the renovation
- Cover for converting a commercial property into a private home
- Cover for building materials kept on site throughout renovation
- Some insurance companies will give cover for a property that is in the process of being fully remodelled internally, as long as the external structure is weatherproof
- Flexible cover periods – this might be helpful if your building work finishes early or overruns beyond the anticipated deadline
- Many insurance companies that offer renovation insurance also offer home insurance, and may provide special deals if you afterwards purchase your home insurance through them once work has been completed.
Compare best renovation insurance deals
With our comparison table you'll find home renovation insurance which will fit your requirements, providing things like:
- Immediate cover
- Interest free direct debit payment options
- Short term cover with no cancellation fee
- Contents cover