Public Liability Insurance

mj_mam

I need to get this to cover the construction of my house, as we are going the direct labour route.
Wondering with whom have people taken out this cover?
How much?
And what do they base the cost on/ how do they calculate it?
Thanks

bakerbhoy

I got mine through FBD 2007 .
Watch for time limit on policy ,you will be able to extend term for a cost ,but if you look to renew outside original period it can be excessively costly.
Also do not commence build before insurance is in place as they are reluctant to issue cover on a project already underway .

Innish_Rebel

I went FBD as well - our bank insisted the house insurance was the cost of the build (as per valuation for mortgage purposes) plus 20k for demolition site clearance - if house needed to be rebuilt due to fire.

P.S. +1 watch our for time scale, but FBD say that if the construction finishes before the policy expires you can transfer it to house insurance...

tred

Innish_Rebel wrote: »

I went FBD as well - our bank insisted the house insurance was the cost of the build (as per valuation for mortgage purposes) plus 20k for demolition site clearance - if house needed to be rebuilt due to fire.

P.S. +1 watch our for time scale, but FBD say that if the construction finishes before the policy expires you can transfer it to house insurance...

I negotiated with Arachas. 2 years, and if you finished earlier you could use it as leverage for house quote after. Also they took interest free 4 payements as far as i remember, good for cash flow...when building

grazeaway

Watch out on the insurance as many companies will only cover from a green field. Some will cover from foundations but as soon as the 1st row of blocks go down they are not interested. Frost insurance will cover from any stage in the build.