In our experience the one area of property insurance that never fails to cause confusion and headaches for clients is when they plan for their properties to undergo renovation, updating, decoration, building additions or tenants improvements.
Most purchasers of new property will inevitably carry out some form of cosmetic or structural work to personalise their new home and most will spend a great amount of time and money putting together plans with architects and project managers yet the adequacy of their insurance for such an event is often overlooked as an expected assumption of cover.
The reason for this is often down to a lack of correct advice before signing any contract terms with their architect or builder. Contractors nowadays often look to their customers to locate adequate cover for the property, materials and liabilities to avoid potential claims being made on their own commercial covers. The result can leave clients with an expectancy that their home insurance will automatically cover the work with little notice which can lead to delays in works being carried out and possible uninsured losses.
Our expert knowledge of issues surrounding larger properties undergoing works means that we discuss ant works planned with our clients upon arranging new insurance to ensure that we provide the right policy from the outset. Many of our policies will allow minor works to be automatically carried out up to where joint contract terms are not required. Where additional cover is required, we are either able to negotiate additional cover with our insurers to compensate for this or we have access to specialist Contract Works Insurance products that are able to provide the right cover for larger properties during the works period with simple move back to a more appropriate policy once works have been completed.