Insured Renovation
Initial Planning & Vision
Insurance Type: Homeowner’s Insurance Check
Before starting any renovation, review your current homeowner’s insurance to ensure it covers general risks associated with renovations.
Why? It’s important to know what’s covered in your policy and make necessary adjustments before major work begins.
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Legal & Compliance Considerations
Insurance Type: Renovation Insurance or Builder’s Risk Insurance
This specialised insurance covers your property during the renovation period, protecting against theft, damage, or accidents during construction.
Why? Protects both you and your contractors against unforeseen risks such as construction damage or vandalism during the renovation.
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Pre-Renovation Assessment
Insurance Type: Flood Insurance (if applicable)
If your renovation involves significant structural changes, particularly in flood-prone areas, verify whether additional flood insurance is required.
Why? Standard homeowner’s policies often don’t cover floods, and renovations may expose your property to heightened risk.
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Design & Materials Selection
Insurance Type: Liability Insurance
Ensure your valuable materials (new fixtures, appliances, etc.) are covered under contents insurance while they’re being installed.
Why? High-value materials used in renovations may need additional coverage to protect them against theft or damage.
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Interior Finishing
Insurance Type: Liability Insurance
If you’re managing part of the renovation yourself or working with multiple contractors, ensure you have personal liability insurance in case of injuries or property damage during the process.
Why? Protects against legal claims if someone is injured on your property during renovations
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Exterior Renovations
Insurance Type: Roofing Insurance Add-On
If replacing the roof or making significant external modifications, consider extending your insurance to cover specific roofing work.
Why? Roof-related claims can be complex, and ensuring coverage during exterior renovations is crucial.
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Post-Renovation Care
Insurance Type: Updated Homeowner’s Insurance
After the renovation, update your homeowner’s insurance to reflect the new property value and any significant changes (new rooms, extensions, etc.).
Why? Your property value may have increased, and failure to update your policy could leave you underinsured.
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