Self Build Insurance
There are a number of insurance policies available to the self build market covering a range of risks. With hundreds of thousands of pounds often tied into a self build home it is important to protect against every possible eventuality. Some insurances are a legal requirement - ensure you and your site is adequately covered.
Employers Liability Insurance
A legal
requirement if employing anyone. The majority of self builders
use sub contractors - not directly employing each site worker. As
the site owner is your responsibility to offer a 'duty of care'
to ensure workers on site do not get injured.
Public Liability Insurance
Legal
liability for claims made by any other person or body in respect
of death, injury or loss arising from your building operations.
Self build policies include standard cover for either £1,000,000
or £2,000,000. When claims do arise the sums
involved are often large.
Contract Works Insurance
Also known as
site risks insurance - covers theft and vandalism, structural
damage, flood, fire, storm damage, damage by delivery vehicles and
so on. The new building is protected at every stage, and materials
are covered as soon as ownership of them passes to the self-builder,
whether on or off the site.
Services Connection
One
example
is when making a drain
connection. The drainage authority requires five million
pounds of cover for the time the connection is being carried out.
Legal Expenses
Legal costs if you are sued for damages, involved in claims arising
from lost land titles, old covenants and ransom strips.
