Embarking on your own self build project can be an exciting and stressful time. There will be plenty to think about, from organising contractors to hiring or buying the right tools and machinery. But this doesn’t mean that you should overlook your insurance needs. To protect you, your site and the tools you’re planning to use, you need to make sure you have Self Build Insurance in place.
At One Broker, we can help you to get the right level of Self Build Site Insurance, so that you can start breaking ground with confidence.
- Cover available from the purchase of your land through to completion
- Protection for you, your site, employees and tools
- Includes All Risks Contract Works, Public Liability Insurance and Employer’s Liability Insurance
- Protection for existing structures, including churches, barns, mills and water towers
- Option to include Terrorism cover
What is Self Build Insurance?
Self Build Insurance provides you with protection while you are building a house. It’s different to Home Insurance, which is designed to protect you from the risks linked to owning a property. This means that even if you are extending an existing structure, your Home Insurance won’t provide all the cover you need.
Self Build Insurance, on the other hand, will provide cover for you, anyone you directly employ, and the tools and machinery you are using during construction.
Self Build Site Insurance will also protect you for the contract works, covering the construction, fixtures, fittings and materials of your build. Included within this is protection against theft and malicious damage, which are significant risks on self build sites.
Do I need insurance for a self build?
Self Build Insurance is a good idea if you are thinking of going ahead with your own self build project. This is because there are a lot of unique risks associated with building your own property.
These include public liability risks. Once you have purchased land, you are responsible for it. This means that you could be liable for any accidents that occur on the land. For instance, if someone trips and hurts themselves on your site, you could face a claim.
Self Build Site Insurance will also provide you with protection for your contract works, which includes the materials, fixtures and fittings of your construction project.
If you are directly employing anyone to build your house, you are legally required to have Employer’s Liability Insurance in place. This will protect you against expensive compensation claims and legal bills should an employee be injured or made ill by carrying out work for you.
Does my contractor’s insurance cover my self build?
Your contractor’s insurance will cover some aspects of your self build. This includes Public Liability for things that the contractor is responsible for, Employer’s Liability for their own employees and Contract Works Insurance to protect their equipment and materials.
However, their cover only extends to their employees and their activities. For instance, if you are personally deemed to be responsible for an incident on site, their Public Liability Insurance will not cover you. You also won’t be covered if materials are lost, stolen or damaged if you purchased them under your own name.
Their cover is also only likely to be in operation while they are on site. If something is damaged or stolen overnight, your contractor’s insurance won’t protect you.
For these reasons, mortgage providers will want you to have your own Self Build Insurance in place if you are looking to finance your build. Local utility companies and councils may also require you to have it in place.
Do I need Self Build House Insurance for renovating or extending a building?
It is a good idea to have Self Build house Insurance in place when renovating, converting or extending a building.
This is because Site Insurance for a self build will provide cover for your existing structure, in addition to providing you with vital financial protection for your contract works, hired or owned equipment, materials and public liability risks.
Your regular Home Insurance won’t cover these aspects. You may also find that your Home Insurance cover is invalidated while you are carrying out work, or if you leave your property unoccupied while you complete the work.
Self Building Insurance can be put in place for work on all kinds of property, including churches, schools, barns, water towers and mills.
When should I get Self Build Insurance?
You can get Self Build Insurance put in place as soon as you own the land you are to build upon.
This means that you will immediately be protected by Self Build Public Liability Insurance. This will cover you should anyone make a claim for any injuries caused by your site. For example, if your architect trips and hurts themself.
Once Self Build Site Insurance is in place, it will cover you for each phase of the build, from breaking ground through to practical completion.
When your project is complete, you can then take out Non-Standard Home Insurance.
What is covered by Self Build Site Insurance?
Self Build Site Insurance is a comprehensive policy that provides protection against a variety of risks.
It’s cover therefore often includes:
- All Risks Contract Works: Protection against damage, theft and loss for the build and your materials, fixtures and fittings. This includes malicious damage and materials that are stored off-site
- Existing Structure cover: Cover for any existing structures during renovation, conversion or extension.
- Self Build Public Liability Insurance: Financial protection against claims and legal costs for third party injuries or property damages.
- Plant and Tools Insurance: Protection for machinery, equipment and tools, large and small. This cover extends to both owned and hired-in plant and tools.
- Employer’s Liability Insurance: If you are directly employing workers, you are legally obliged to have this insurance in place. This will protect you should an employee be injured or made ill while carrying out work for you.
- Structural Warranty: If you are planning to sell your property within 10 years of carrying out self build work, this warranty will protect you against structural defects. This cover also includes the cost of surveyor visits to inspect the work.
- Optional Terrorism cover: Some Self Build Insurance will include the option for Terrorism cover. This will financially protect you against denial of service attacks, hacking, acts of terrorism and phishing.
How much does Self Build Insurance cost?
The cost of Self Building Insurance is dependent on several factors.
These include what you’re building, the materials used in the construction, the particular risks of your building site and how long it will take to complete.
To get an accurate quote for your self build, you can talk to our experienced team.
Get in touch about Self Build Insurance
If you’d like to find out more about the cover you need for your self build project, get in touch today. Our knowledgeable team will be happy to help.
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