Home Renovation Insurance

What is Renovation Insurance?

Your existing home insurance policy is unlikely to cover you or your property whilst it is undergoing major structural works, such as building an extension or a loft conversion. It is important to check whether your home insurance policy includes cover for such works, as most don't.

From buildings works, kitchen remodels, new bathrooms or even security upgrades, making significant changes to your home can make a massive difference to how you enjoy your home. However, all of these can cause you to make a claim if something goes wrong during your renovation work. So it’s essential to get suitable quotes for renovation insurance. Furthermore, if your home will be vacant during your renovations, usually for larger projects, you may need to consider unoccupied home insurance.

Why purchase Renovation Insurance?

Whether you are carrying out your own property renovation, for either domestic or commercial property renovation or if you have retained the services of professional contractors, you may not have considered the implications for your home insurance or commercial property insurance; property renovation insurance is a specialised area and it is important to bear in mind that your standard household or commercial premises insurance will not necessarily provide cover for properties undergoing major refurbishment or restoration.

What does Renovation Insurance cover?

Property renovation insurance cover typically includes:

• Buildings insurance
• Contents insurance
• Renovation and restoration work
• Property conversions - domestic or commercial
• Existing buildings and new works
• Public and employer's liability cover
• Contract works insurance
• Plant and tools cover
• Site huts and temporary caravans on site
• Temporary alternative accommodation

Frequently asked quesions

Do I need renovation insurance for home DIY?

Some home insurance policies include exclusions that specifically apply to home improvements and any damage arising. For minor work, it is likely you will be covered. For larger projects and if you are not suitably qualified to carry out the work, you might have to cover the cost of any damage yourself. It is essential to check the terms of your policy to see if you are, otherwise call your insurers to check. A basic cover for building insurance will include bricks and mortar as standard, as well as permanent fixtures and fittings. Often, some buildings insurance policies will cover you for accidental damage as a standard. Standard home insurance policies that don’t have accidental damage cover included aren’t likely to cover you for damage caused by DIY accidents.

If you are taking on a major structural project yourself, you might want to consider taking out self-build insurance instead.

Insurance for property undergoing renovation is available now from our specialist property insurance brokers - you can obtain a quote for your property renovation project today.

Do I need to tell my insurer I'm making changes to my home?

You should tell your insurer before you begin any renovation work or if you are making structural changes to your home. Converting your garage into an extra room, turning your cellar into a kitchen and converting your loft into a bedroom suite are all examples of work that should be notified to your home insurers as a matter of course.

Will home improvements increase the cost of my home insurance?

If you add significant value to your property by, for example, building an extension or adding a bedroom, this might increase the overall value of your property. Insurers usually base the cost of your home insurance on, amongst other factors, the valuation of your property. If your property value has increased, your insurer may want to increase the premium they charge for your buildings insurance cover.

Can changes to a listed building be covered?

As the owner of a listed property, you will need to discuss any planned changes with your local Council Planning Department. If you’re lucky enough to call a listed building home, then you may want to undergo some work to modernise some of its features. Most renovation insurance companies will consider covering this, as they would a conventional home.

How can QuoteRack help me?

QuoteRack has partnered with expert insurance brokers who specialise in property renovation insurance and who understand the various types of risk associated with this type of building project insurance. If you are giving serious thought to restoring or refurbishing a property, either for sale, letting or owner-occupation, we can pass your details to brokers who will be able to assist with any questions you may have regarding home renovation insurance.