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Self build insurance for extensions and renovations.

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  • 08-01-2014 4:14pm
    #1
    budgetbuilder
    Registered Users Posts: 40 ✭


    I'm about to start building a substantial extension and a renovation which will involve pretty much the demolition and replacement of the original house. My problem is that none of the insurance companies I've found either do self build insurance (Frost say they'll be doing it in the next couple of months) or they do it but not for any project that involves a renovation. At this stage I'm loosing the will to live.. or at least build.:(

    Has anyone had a quote recently for something similar and if so, how much and from which company/broker???

    Hope someone is able to help
    Tagged:


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    #2
    Jonny Harris
    Registered Users Posts: 73 ✭✭Jonny Harris


    I didn't bother with any rip off insurance. I thought the money was more useful in my hands. I think at the time the cost was e3000 a year! It would have been a complete waste if I had paid it
    regards


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    #3
    jdun1982
    Registered Users Posts: 3 ✭jdun1982


    Hi there, I'm suffering the same way. All Insurers rejecting us so far, and I work for an Insurance Company. Im waiting on a couple of companies to get back to me, but not confident with it at this stage.

    Have you tried selfbuild.ie?


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    #4
    budgetbuilder
    Registered Users Posts: 40 ✭budgetbuilder


    Nope, haven't tried selfbuild.ie. But what really put me off the insurance, even if I could get it, was one guys hard sell as if the sky was going to fall on me if I didn't insure the build. That sort of thing usually just gets my back up and makes me go the oposite way so now I'm probably not going to bother with the insurance. The money is better in my pocket than in theirs especially as I'll be doing most of the building myself. I also can't wait around for the companies to get their acts together. I want to start buildng next month before the new building regs come into effect.


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    #5
    hexosan
    Registered Users Posts: 1,736 ✭✭✭hexosan


    What are you going to do when one of the trades working on the site has an accident or someone walks in off the street and gets injured (company reps) (there'll be plenty of them calling once they smell the chance of a sale) or the local thief in the middle of the night (your liable it he injurys himself robbing you) ???
    Insurance is always a waste of money if nothing happens (which is most of the time) but it'll be the best money spent if something happens.


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    #6
    budgetbuilder
    Registered Users Posts: 40 ✭budgetbuilder


    hexosan wrote: »
    What are you going to do when one of the trades working on the site has an accident or someone walks in off the street and gets injured (company reps) (there'll be plenty of them calling once they smell the chance of a sale) or the local thief in the middle of the night (your liable it he injurys himself robbing you) ???
    Insurance is always a waste of money if nothing happens (which is most of the time) but it'll be the best money spent if something happens.


    It's not like I have a choice. There just doesn't seem to be an insurance policy available for a self build extension. I've spoken to dozens of companies and even more brokers. All they can do is tell me that they don't do a policy but the sky will fall if I don't have one.

    All I can do is minimise the risk. I'll be doing all of the construction myself so the only Trades will be the plumber, electrician and gas fitter. Those will be towards the end of the project when it's not much of a building site anymore. Company reps will not get past the gate as I'm on site 24/7, if the "local thief" comes anywhere near in the middle of the night, it won't be injury he should be worried about. nobody just walkes in off the street here, anyone that tries never gets past the gate. And all deliveries will be to the side of the road so they will never set foot on my property. It would be so much better IF I could get insurance but since I can't I'm not going to let it stop me building.


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    #7
    Jonny Harris
    Registered Users Posts: 73 ✭✭Jonny Harris


    Shouldn't any trades that come in have there own public liability insurance?
    Keep your money and try and minimise risks.
    regards


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    #8
    budgetbuilder
    Registered Users Posts: 40 ✭budgetbuilder


    Jonny Harris wrote: »
    Shouldn't any trades that come in have there own public liability insurance?
    Keep your money and try and minimise risks.
    regards

    That's exactly what I would have thought. And I just won't employ any that don't have their own insurance in the first place.


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