As the autumn homebuilding and renovating show programme swings into action, and DIY fans start their home improvement projects, Safe and Insured is urging property enthusiasts to make sure they have the right insurance protection in place.
Many home insurance providers will not offer cover for a property under renovation, as this frequently involves prolonged periods in which the home is not habitable and so left unoccupied for a couple of months or longer.
This presents issues for those wanting their grand designs to materialise and needing to gut much of the property to help make that happen. Many home renovators unwittingly invalidate their existing home insurance by undertaking long programmes of improvement that necessitate their sleeping elsewhere, whilst others may take a calculated risk by not buying any insurance, if they know their insurance provider would not cover any claim anyway.
Many insurers will not consider claims if a property owner has left a property unoccupied for over 30 days. Some also demand that all services are turned off at the mains whilst a property is not occupied, making things problematic for property renovators who need supplies of water and electricity for the work being undertaken.
Anything could happen during the period of time the property renovation is taking place, from malicious damage and arson, to escapes of water and flood damage. Additionally, theft of fixtures such as fireplaces, wood burners and kitchen units could occur, if these are in situ but other work is still going on around the home.
However, there are insurance options available for properties under renovation and this is an area in which Safe and Insured specialises. It has access to insurance policies for landlords, property owners and tenants and offers cover for unoccupied properties and holiday homes, as well as properties under renovation.
This specialist cover is also ideal for anyone that has just bought or inherited a property, or a landlord who is between tenants.
Safe and Insured’s director, Chris Roberts, says: “Testing the resolve of the insurer’s loss adjuster, in the event of a claim at an unoccupied property or one under renovation, is a bad idea and an unnecessary risk to take. If there is any chance that the loss adjuster can cast doubt on the occupancy of the property and whether this fits the terms of the policy, the homeowner is likely to lose out.
“As we enter the first of the two most popular home renovation periods in the calendar, we would urge any home renovator to talk to us about appropriate cover for their ‘project’ and their property.”
More information is available by calling us on 0808 161 7008.