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Insuring a property conversion
If you are considering doing a property conversion, perhaps dividing an existing house into self-contained flats or apartments, you may have realised that such a project brings with it a host of potential pitfalls, not least how you are eventually going to find insurance for converted property.
What was once a house is now a number of bedsits
This trend has grown enormously in recent years and many property speculators are increasingly finding older, larger properties to convert into flats, bedsits or apartments. Insuring converted property is an area that needs the expert knowledge and experience of insurance specialists. .
"Property development is so exciting and converting old houses into new homes gives you a real sense of achievement. We arranged insurance cover for the converted property before the development started."
Who did the property conversion?
If you have bought a converted house, with a view to converting the property into flats, then your solicitor will have done the normal searches during the conveyance process. This may however throw up the possibility that some work has been done on the property for which the relevant planning consent was either never granted or maybe not applied for. In these cases, you may need indemnity insurance to cover the potential cost of any litigation or retrospectively gaining planning permission.
"You take a chance when you buy any property - buying one that needs so much work is even riskier and you need all the right cover if you want to sleep at night."
Completing the QuoteRack 'Converted Property Quotation Request Form' will send your details to a range of insurance experts who specialise in offering insurance for converted property. There is no obligation to proceed and you will hopefully be impressed with the converted property insurance quotes you receive.
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"I've divided an old property into new self-contained apartments and as the property owner and the freehold owner, I need to make sure the buildings are fully insured."
"Converting the old farm buildings into a new home was a lot of hard work and I'm now looking forward to my next project."