Types of Home Insurance needed for House Renovations
Are you planning major renovation work to your home? If so, it is a good idea to purchase home insurance to offer you peace of mind while renovating your home. It is essential that you inform your home insurer that you are renovating your house, it may show that your policy may not cover you if someone makes a claim against you while working on your home. This also applies to whether you decide to stay living in the house while the renovations are being carried out. Something happening to your home and your belongings inside is a risk and it will increase while renovations are being carried out. You must inform your insurer about any renovating as the rebuild costs to the house could be affected. Your insurance company wants to ensure that you are covered with the right level of cover to protect you and your home. You can learn more from top insurers in Ireland on their websites. Let’s look at the types of home insurance that you would need for a house renovation.
Buildings Insurance
Buildings insurance protects the structure of your home, as well as any permanent fixtures such as your roof, kitchen fittings, and the bathroom. This extends to outdoor buildings as well as sheds, walls, gates, fences, and garages. It is not a requirement legally, however, if you have a mortgage on your home your lender will insist that you have buildings cover in place for your peace of mind and protection.
Contents Insurance
Contents insurance will protect all the belongings inside the home in the event any of your contents become damaged or stolen during the house renovation. Contents include furniture, TV, expensive items, jewellery, electrical appliances, and more. It is important to work out how much all your contents add up to and the best way of doing this is to go room by room and provide your insurer with an estimated figure to place on your home insurance policy.
Public liability Insurance
Public liability should be obtained if you are renovating the home. It is essential to make sure that you won’t be solely responsible for injuries to contractors or builders in the event someone would make a claim against you. Public liability also protects you against damage to their property which may be caused by your house renovations. If an accident occurs on your premises you will be covered for medical bills, repair costs, and legal costs to the damaged property. This will give you peace of mind that you are covered under your policy.
Home Renovation Insurance
A Home renovation insurance policy covers you for the following:
- Public liability insurance – if someone becomes injured at your home during the renovations, however, it does exclude any injury that occurs as fault of the home renovations project.
- The existing parts and structure of the building that is not being renovated.
- Cover for explosion, fire, and earthquake once it is not caused by the home renovations work.
- Damage that is malicious – during the renovations if the property is left unoccupied you will not be covered.
- If your building is unoccupied you will be protected under your home renovation insurance policy.
- Protection for structural damage – if any issues occur during the renovating work, once the property is not unoccupied and that the damage to the structure of the house is not caused by the renovating to the property.
One of the most valuable possessions you own is your home. It has all your comforts, memories, and belongings inside. Therefore, it makes sense to have your property covered with a home insurance policy. It isn’t a legal requirement, but it should always be taken into consideration to protect your home.
