Types of Self Build Insurance |
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It’s easy to get caught up in the excitement when taking on a self build project, and we understand that the last thing you want to think about is something going wrong. Unfortunately from the outset you will face risks that could ultimately have a negative affect on your build - the most effective way to protect yourself is by taking out self build insurance.
Whether you’re looking at renovating your home, extending your property through a self build conservatory or brick extension, or taking on the task of building a new home from scratch, Self-builder will take the hassle out of arranging self build insurance by guiding you through the different types of insurance on offer.
Self build insurance to protect...
Products for Self builders
Products for Property Developers
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If you’re planning to complete a self build project with the intention of selling the house on quickly to make a profit, it’s vital that you arrange the relevant property development insurance to cover you for the construction risks that you face. Failing to do so could mean that you end up making a loss on your investment as opposed to the profit that you’ve dreamed of. For individual property developers, construction companies and contractors, our property development insurance underwritten by RSA provides all the cover you need to meet both legal and your personal protection requirements.
Find out more aboutProperty Development insurance
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Once you have purchased a plot of land with the intention to build, you could be found liable if an incident on your site were to result in an injury to a member of the public, or damage to a third party’s property. It’s a tricky one to control as even injury to trespassers and damage to underground services are factors that could lead to a claim resulting in huge legal fees and even compensation payouts. The simple way to prevent a claim impeding on your project is to take out public liability insurance with Self-builder. Cover can be purchased for as little as £157.50.
Find out more about Self Build Public Liability Cover
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Building your own home is for most people a dream come true, and is likely to be the largest single investment you’ll ever make. Protecting your investment is crucial if you are to have the comfort of knowing that should a serious defect occur during the first 10 years, it will be covered. Increasingly, self builders are choosing to take out a 10 year warranty rather than rely on an Architects Certificate.
A structural warranty will protect you against costs of repairing, replacing or rectifying any defect for which the developer is responsible. We offer the security and expertise to provide you with the reassurance that you need. Many lenders are now insisting on a warranty being in place before providing mortgage funds.
Find out more about a Self Build 10 year Structural Warranty
Enquire about Structural Warranty cover online
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If your works damage adjacent or surrounding property, you could be liable and ordered to pay expenses, which you’re unlikely to have budgeted for. Damage is more likely where the building project involves excavation, piling, demolition or underpinning as these can lead to subsidence, vibration or weakening of support. If a claim is made against you, a JCT Insurance 21.2.1 policy through Self-builder would help in payment of any expense, liability, loss claim or proceedings, whilst also alleviating the stress and worry a claim would bring.
Find out more about Self Build JCT Insurance 21.2.1
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Although you may not be considering it at the moment, you’re likely to sell or re-mortgage your dream home at some point in the future. Investigations of the title often reveal problems which, if not addressed, could prevent the transaction from proceeding. In addition, the title to land may be subject to restrictions. Defective title and restrictive covenants insurance can be a quick and easy way to protect you against these difficulties.
Find out more about Self Build Restrictive Covenants
Find out more about Self Build Defective Title Insurance
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It’s vital to take time to think what affect critical illness could have on your ability to work, and the knock on effect this would have when trying to make mortgage or loan repayments. Critical illness insurance provides a lump sum upon diagnoses and permanent health insurance will provide a replacement income to assist you to make payments. Life insurance cover will provide peace of mind for your loved ones by paying out a cash lump sum in the event of your death. All of these can be arranged easily through Self-builder, so to find out more and get a quote, just follow the links below.
Find out more about Self Build Income Protection Insurance
Enquire about Income Protection Insurance
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Still have questions?
If you are still unsure about the type of self build insurance you need or want to speak to a Self-builder representative directly, don’t hesitate to contact one of our team on our
FREEHONE 0800 018 7660 and we’ll be more than happy to see how we can help.