New Build Insurance

Are you carrying out a Self-Build or New Build Project? You can’t always rely on your builder’s insurance.

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Building a new property is an exciting prospect often involving considerable time and money. Therefore, it is vital that you arrange a suitable policy to provide insurance cover for your project -whether you are carrying out the works yourself or appointing skilled tradesmen.

We would always recommend that cover is incepted as soon as you have exchanged on the plot of land or the building that is being demolished.

Our specialist policy is on an ‘All-Risks’ basis and will be tailored to meet your needs and requirements.

For New Build projects, we provide contract works insurance, insurance for materials on site as well as any liability you incur throughout the building project. You will also have the option to include cover for several add-ons such as cover for your Tools, Hired in Plant, Employers Liability and Non-Negligence.

Many people choose to live on site throughout the build. Therefore, it is also an option to extend the policy to provide cover for Caravans/Site Huts as well as cover for your personal contents.

It is increasingly common to use different materials as opposed to the traditional brick & tile. For example, timber frames, zinc roofs, SIPS panels etc. Irrespective of the route you choose, our policy will be able to cater for your needs.

Optional extras

Ordinarily, when covering a new build project, our insurance policy would provide cover for the contract works and Public Liability. However, there are several add-ons to include such as cover for Hand tools, Machinery, Hired in Plant, Employers Liability, Caravans/ Site Huts and Non-Negligence. These are all important things to ensure are covered by insurance whilst carrying out a new build or self-build project.

All-Risks

Our Policy is on an ‘All-Risks’ basis which means all perils are included unless we have applied a specific exclusion. With this insurance there is a £1,000 general excess in the event of a claim.

Materials

Our policy will also provide cover for any materials on site awaiting to be installed - as long as the contract works sum insured is adequate enough to include these.

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A: Many people do not realise the need for insurance until the property has been built. However, there are a number of things to consider when carrying out a new build project such as claims for theft of materials or tools and equipment. These can all become costly if there is no insurance in place. Also, if you have taken out a mortgage to fund your project, your lender may make it a requirement to have adequate cover in place prior to lending the funds.

A: We would recommend that you include cover for Employers Liability if you are appointing any casual labour or volunteers to assist you with your project.

A: The contractor you appoint should have some level of insurance, however they may only have cover for Public Liability. This will only provide cover if they cause damage to your property or neighbouring property as a result of the contract works. It will not provide cover for the actual works. Their insurance is not likely to provide cover for any tools or materials you have purchased either. Also, if you are using a number of different contractors, it would be hard to prove who was at fault in the event of a claim in order to claim off their Public Liability insurance.

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01621 784840
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