A self built home offers many exciting possibilities but it also represents a significant investment in both time and money. Self building carries risks of injury and damage to property and that is where our self build insurance, backed by Aviva, comes in
The risks a property faces can differ depending on where it is built. An inner city property is more susceptible to theft and malicious damage. Generally a self build site will lack the security of a larger development so they can be targeted with materials and tools stolen. While a more rural property can suffer from weather related claims such as storm.
Once you exchange on your plot of land or property you are responsible for the insurance on it. Initially with the plot of land there is only a relatively small chance of a claim occurring. However should an accident occur on site for which you are held responsible (this includes trespassers) the claims can run into a great deal of money which can delay your build or make it financially impossible to complete it. Our standard insurance package carries both public and employers liability.
Once your contractor is in place and works starts on site they will probably provide some cover. As a minimum they should have liability cover however there are some grey areas with that. It maybe the case that when they leave site the insurance goes with them so when the property is at its most vulnerable at night and over the weekend no cover would be in place. It may also be the case that they carry insurance for your materials once they arrive on site depending on the type of insurance they have however, if you are sourcing and buying some of the materials yourself your contractor cannot cover these and you will need to insure them yourself.
If you are financing your project via a mortgage it is very unlikely they will accept a contractors policy and will insist your source your own insurance.