Self Build Insurance

When talking about self build, it is important to understand that this reaches beyond building a new home. Self build can also be a home renovation, adding a new room onto the home, converting a barn, and so on. However, regardless of the type of self build, you need to make sure you have self build insurance to protect your investment.

During the building or renovating or your home, you and other family members will be involved. The degree of that involvement depends on the type of self build but in any case, accidents can and do happen. To ensure your safety, self build insurance is essential. However, self build insurance can also be used should there be any type of disruption during the completion phase, which might include disagreements with contractors, arson, theft, and then again, accident or injury.

Keep in mind that a self build project is a significant investment so obviously, you want to do everything possible to protect your assets. By choosing good insurance, you would be covered for just about everything involved with a self build project, as well as financial compensation should you experience some type of loss. The key with self build insurance is to work with a reputable company that specializes in this area, giving you a great bargain and great customer service.

Now, if you are going through renovation or adding on another room, then the existing structure would need to be protected, along with the work involved. That means should you go through a flood, fire, vandalism, storm, or accidental damage you have coverage. The unfortunate mistake commonly made for people considering a self build is thinking standard building insurance will take care of any problems. Instead, you need special insurance.

When buying self build insurance, you can purchase a standard 24-month site insurance package at an affordable rate, along with an option to purchase insurance coverage for any additional months once the completion is done. Therefore, if you think your self build will be completed in 14 months, that means you would have 14 months of site insurance, which when the building was complete, the insurance would transfer the remaining 10 months to building insurance. Although the price would be a little more, it is still a great deal.

Self build insurance offers a number of great benefits. For instance, you could choose an option that would provide you with protection against all risks up to 125% of the reinstatement cost. This cost includes the amount it would cost to redo the building using professional labour. Another benefit would be protection against all risks caused by new work, up to 110%, again at professional reinstatement cost. Protection would also be provided again all risks for own and hired plant, tools, and equipment, up to £30,000.

Then for site huts, containers, content, and residential caravan, self build insurance would provide protection against all risks up to £30,000. Even employee's tools and personal effects would be covered with this type of insurance. Then, employer's liability would give you protection just in case you had to pay some type of compensation for disease, bodily injury, nervous shock, and even death during the self build phase. Other benefits include public liability, legal expenses, personal possessions, personal accident and broken bones, and optional building insurance. As you can see, when considering a self build project, you cannot afford to pass on this type of insurance.

Employers Liability Insurance

A legal requirement if employing anyone. The majority of self builders use sub contractors - not directly employing each site worker. As the site owner is your responsibility to offer a 'duty of care' to ensure workers on site do not get injured.

Self Build Public Liability Insurance.

Legal liability for claims made by any other person or body in respect of death, injury or loss arising from your building operations. Self build policies include standard cover for either £1,000,000 or £2,000,000. When claims do arise the sums involved are often large. This is a legal requirement if you are employing anyone. It is important to understand what is meant by employment, as most self builders use sub contractors and do not employ anyone in the general sense of the word. However, as far as an accident to someone who is working for you is concerned, you certainly owe him a 'duty of care' to ensure he does not get injured on your building site and if a sub contractor is injured on your building site his solicitor will establish that he has 'deemed contract of employment'.

Self Build Contract Works Insurance

Also known as site risks insurance - covers theft and vandalism, structural damage, flood, fire, storm damage, damage by delivery vehicles and so on. The new building is protected at every stage, and materials are covered as soon as ownership of them passes to the self-builder, whether on or off the site. This is sometimes called site risks insurance and protects against the more common losses - theft, vandalism, structural damage, fire, flood, storm damage, damage by delivery vehicles etc. The new building is protected at every stage and materials are covered as soon as ownership of them passes to the self builder, whether on or off the site.

Services Connection

One example is when making a drain connection. The drainage authority requires five million pounds of cover for the time the connection is being carried out.

Legal Expenses

Legal costs if you are sued for damages, involved in claims arising from lost land titles, old covenants and ransom strips.

- James M

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