FAQs

Q. Why should I use Renovation Plan over other insurance?

A. Normal house insurance generally requires you to reside permanently at the property and is also likely to exclude major works being carried out. Renovation Plan is designed to overcome this and in addition will provide cover for the materials on site and works being added.

Q. What type of project can you cover?

A. Just about anything including both major and minor renovations, conversions and properties being extended as well as new build projects. We can also cover both residential and commercial properties.

Q. What are the parts of the project that are covered?

A. The existing structure, the new works being added, the materials on site and if required Contents, Machinery and Tools, and liabilities. We can also provide cover for contract works in isolation.

Q. I plan to do a lot of the work myself but I am not a builder. Is this OK?

A. Yes this is fine. But you should also check that any contractor you do use has their own Public Liability of not less than £2,000,000.

Q. Is Liability cover included?

A. The policy automatically includes Public Liability of £2,000,000. If you are using contracting firms to carry out all or some of the work you should not need further Employers’ Liability although we can offer this as an optional extra. If in any doubt please speak to us.

Q. Why do you offer 3 levels of cover?

A. By providing you with options we can offer varying premiums for those clients who feel extra covers are unnecessary and so provide a tailored policy. All-risks cover can be stipulated as required under some contracts such as JCTs. When this is the case, our most comprehensive cover is required.

Q. Why would you offer the Renovation Plan Premier Plus product instead of the standard product?

A.  Renovation Plan Plus can cover larger projects where higher Buildings and Works limits are needed. It is also appropriate where you have entered into a JCT contract which requires a joint name policy with the contractor or you require ‘All Risks’ cover. Renovation Plan Plus can also cover projects where there is a basement excavation or major demolition works.

Q. How long should I request for my policy length?

A. We can offer quotes for any length between 3 – 36 months. We recommend adding around 20% to your contract period to estimate the length of the project as an average project will overrun by this amount. We can extend the policy term if required. If you finish the project before your expiry date, we’ll offer a pro-rata return premium subject to a cancellation fee.

Q. What is Buildings Accidental Damage cover?

A. This provides insurance cover when accidental damage is caused to the building itself, or to the fixtures and fittings forming part of the property.  This could be accidentally breaking a window, or accidentally damaging a bathroom suite.  The insurance definition of buildings is the structure and fixtures and fittings like a kitchen or bathroom.

 

Q. Are my buildings covered for general wear and tear?

A. No – wear and tear is excluded.  As a property owner you have a duty of care to maintain the property.

Q. What incidents or events are covered?

A. This depends on the level of cover chosen.  The standard level and the Premier Level specifically list the things that are included in the policy cover.  The Premier Plus level provides All Risks cover for the building, new works and unfixed materials unless specifically excluded in the wording. Click here to view our levels of cover.

Q. How can I find out the rebuild value of my home before and after my renovation works?

A. If you have recently purchased the property this may be noted in the valuation report. Alternatively there are a number of online rebuilding cost calculators available. Once your works are complete, we would recommend considering using the higher estimated rebuild cost these calculators suggest, if the property has been renovated to a high standard. We would always recommend you insure the property for the correct reinstatement value. In the event a claim is made and there is an instance of underinsurance, a proportional deduction may be made from any settlement.

Q. What information do I need when quoting for my insurance?

A. This varies between insurers but for our policy, the main things we require are details of the building works, the rebuild cost of any existing structures, the cost of the contract works, the postcode and the duration of the contract.

Q. What is JCT Insurance?

A. This can be called a number of different things (Joint Contractors Tribunal Insurance, 6.5.1 Cover, 21.2.1 cover, Non Negligence Insurance or Party Wall Insurance).  It provides cover for damage to a neighbouring property during the works being carried out that are not caused as a result of negligence (negligence would be usually be covered under the Public Liability section).  Find out more about JCT Insurance here.

Q. When is contract works insurance required?

A. Contract works cover is required when building works are being undertaken.  It will cover the new structures including any unfixed materials or fixtures and fittings.

Q. Can I change the policy when the property is finished and becomes let out or my home?

A. No, the policy will need to be cancelled and a more suitable policy arranged. We would be happy to offer quotations for a Let property or home insurance

Q. Who are Aston Lark?

A. Aston Lark is an independent insurance broker which arranges and administers the Renovation Plan products on behalf of underwriters at Lloyd’s of London.