House Insurance During Construction

thebackbar

Hello,

My building contractor has all risks insurance on my site for the duration of time it takes to construct my house. However my bank have specified that they want to me to insure the house during the build too. It seems a bit strange. I've discovered that there isn't many insurance companies that will cover the house during construction. Has anyone come across this before ? Did you find an insurance company to cover you ?

Shooter_galway

Got under course of construction through allianz myself and public liability through fbd.. Ask any broker to help you out they will get a good quote in few hours for you.

bee06

I got it from FBD no problem.

thebackbar

bee06 wrote: »

I got it from FBD no problem.

Thanks, does anyone know of any other companies that insure homes under construction, i just want to get a second quote. thanks

Shooter_galway

Have under course of construction with allianz

Charlie Charolais

hi guys,
how much did it cost?
what is under course?

Shooter_galway

Under course of construction covers fire storm and flood damage.. Depending on cover of public liability then will affect cost roughly talking 1200 upwards depending on level of cover

Shooter_galway

Shooter_galway wrote: »

Under course of construction covers fire storm and flood damage.. Depending on cover of public liability then will affect cost roughly talking 1200 upwards depending on level of cover

Also public liability is not needed for mortgage drawdowns, but beware I personally know 3 people who failed to take this out. Two have had no problems and the third is up sh!t creek without a paddle. Most trades will have their own insurance but not something I'd recommend skimping on

thebackbar

Shooter_galway wrote: »

Have under course of construction with allianz

weird i contacted Allianz today and they said they didn't cover under course of construction insurance

dosebier

Anyone know if there is anything to be aware of when extension is underway and we are still living here during construction ? Our insurer sent us a vacant form to fill in (for when renovations are under way) but we would be still living here so our normal insurance should be ok? I will of course check the builders insurance aswell.

kildarejohn

thebackbar wrote: »

weird i contacted Allianz today and they said they didn't cover under course of construction insurance

It may be that Allianz don't do this cover directly, but will do it if you go through a broker, several companies only do "bog standard" covers direct to customer, but have different options available thru broker
BTW, don't forget when house is complete (i.e. liveable) to upgrade to full cover.

cplwhisper

Axa cover under construction for homes axa.athlone@axa.ie if I can help

Drift

Shooter_galway wrote: »

Two have had no problems and the third is up sh!t creek without a paddle.

I'd be interested to hear any details you can give (without personal information obviously.) I always recommended clients get appropriate insurance - particularly during self-build times - but I was often ignored and I never had an example or precedent to quote!!

Spark Plug

My understanding is that house insurance "in the course of construction" is all that mortgage lenders require when a contractor is undertaking the work, and such policy's cover perils such flooding, fire etc. I don't believe the policy is all risks. If for example you engage a contractor to build an extension in theory their insurance should cover public liability and the associated risks from having the various trades on site. Best practice would perhaps say that you should engage a broker to review the contractors policy in order to determine that there is no liability to the home owner. Self builder cover as other posters have said is more expensive and is an all risk policy and is more in line with a contractors policy I'm not sure if it incorporate all the risk cover under a "course of construction" plus public and employers liability and materials on site.