When you renovate, your home becomes more vulnerable. Depending on the size and complexity of the project, sometimes it is open to the elements, other times the structure might be temporarily compromised.
Your usual house insurance policy won’t cover you for any loss or damage caused by renovations, particularly major projects.
So it is important to notify your home insurer and ensure the correct insurance policy (Contract Works Insurance also known as Builders Risk Insurance) is taken out. This additional policy should work alongside your normal house insurance to cover any damage caused by or while your renovation work is being done.
Not all Contract Works Insurance policies are made equal though, so it is important you do your research to ensure you secure the best possible policy available to you. You are likely to be asked a bunch of quite technical questions about the site conditions, work being done and construction methods being used. This is so the insurance company can assess your project and of course charge you a premium appropriate to the risk they are taking on.
If you work with MyHome Renovations however, the Contract Work Insurance application and other paperwork is all taken care of on your behalf. It’s part of our wrap-around service to ensure your renovation experience is as enjoyable as possible.