Renovating your property

Undertaking updates, redecorating and full-scale renovations can be exciting and rewarding times.

From where to cook while the kitchen is out of use, to how to give the builders access whilst you’re not at the property, there is an awful lot to consider.

One thing you won’t always think of is notifying your insurer, but it’s important to ensure you’re protected throughout the duration of the works. Here we share a few tips on updating your current policies and arranging new cover – from why you need it, to when to get in contact and what information you’ll need to share.

When you upgrade and update your house, the same needs to be done for your insurance policy

When everything goes right, it’s great. But when something happens, big or small, your insurance is there to help.

From stains on an antique rug to total loss of a structure, unforeseen events happen. Being correctly insured makes these far easier to deal with, in both a timely and cost-efficient manner.

Why do I need this contract works insurance?

• Increased footfall in your house means an increased chance of theft, damage, or loss
• Unforeseen changes can happen as a result of the works taking place – cracks could appear in an adjoining property, etc
• Should a dispute arise, cover will help when you need to settle it
• If you unexpectedly need to move out of the property for a while, this can be covered by your policy

When to get in contact with your broker

It’s best to have an initial conversation with your broker about any proposed works – anything from general decoration to complete refurbishment – at the earliest opportunity.

During works, you’ll need to inform your broker if the contract value has increased, the duration of the works has increased, or the nature of the works has changed.

If anything happens and you think it may result in a claim, advise your broker as soon as possible.

What information you’ll need when you get in contact

• Proposed period of works
• Period of unoccupancy of property
• Your contractor’s details
• Contract value
• Details of works being carried out at the premises, including any structural and/or basement work
• Details of liability, adjoining properties, and risk management practices

After the work ends

When the work ends, there are just a few things left to do, other than enjoying your newly renovated property!

• Advise your broker that the works are complete, and that cover can come to an end
• You’ll also want to update your building’s cover with the new estimated rebuild cost, considering all the work that has now been completed

A good broker will be able to guide you through this process – a specialist will ensure nothing is missed, as they will know all the right questions to ask.

To speak to a specialist today, please call us on 01622 476433 or complete our no-obligation enquiry contact form here.

To learn more about Abode, please click here.

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