The works sum insured should include the following:

• The value of the main contract
• The value of any subsidiary contracts (for example, a separate contract with a fitted kitchen supplier)
• The value of any direct purchases (usually fixtures and fittings)
• Professional fees
• VAT where applicable

Unfortunately, this is a fairly regular occurrence. If this happens and you are covered by a Renovation Underwriting policy, please notify us immediately. 

Our policies do allow for a cessation of works for up to 60 days, during which time full cover will be maintained automatically. We can manage longer periods than this as long as we are kept fully informed. We will ask a policyholder to submit to reasonable and achievable unoccupancy conditions around property inspection, security and on-site risk management (such as draining of water systems, disconnection of services etc.).

Each policy is a material damage policy, and does not cover failure to perform, or financial losses resulting from a contractor leaving site for whatever reason. This type of cover may be sourced from the Lloyds market, but for standard domestic projects we find it to be prohibitively expensive.

Contractors will frequently have a ‘contract works’ section under their contractors all risks policy. This section enables contractors to insure the materials, fittings and works in progress on behalf of their clients. It is perfectly possible, and in some cases, appropriate to rely on this cover – but it will never be possible for the contractor to insure the existing structure, so policyholders will still need to source buildings cover.

The problem here is that specialist contract works providers such as ourselves are not able to insure structures on their own. Our product is a contract works package, so the essential element of cover is the works insurance. This will leave a policyholder needing to source cover from the standard buildings market; and there is very little appetite for structures, usually unoccupied, in the course of a renovation. As a result, the cover achievable is likely to be very limited (FLEEA = Fire, Lightning, Earthquake, Explosion & Aircraft risks only) and pretty costly.

Additionally, if this route is taken, the following difficulties will be present:

• There will be two separate insurers involved, two excesses to pay and the potential for disputes between insurers in the event of a loss.
• The policyholder will not control the works insurance and will not be able to guarantee ongoing cover if the contractor goes bust, walks off site or fails to pay his premium.
• If a JCT contract is being used, and there is a joint names requirement, the buildings cover will almost certainly be in breach of this and this could result in a problematic claims process.
• There will be a disparity in the levels of cover available under each policy (works will be All Risks, structure will likely be FLEEA only; meaning only Fire, Lightning, Earthquake, Explosion & Aircraft risks are covered)
• Damage caused by the contractor will be excluded under the buildings insurance and a policyholder will be forced to pursue the contractor’s liability insurers.

Bear in mind that the contractor’s works insurance will not be project specific. It will be available for any and all projects the contractor is involved in during the policy period. The mere fact that the cover is available does not mean that it has to be utilised.

No. We are able to cope with any and all contractual arrangements – from completely informal arrangements, through to bespoke contracts produced by the builder, as well as ‘off the shelf’ building contracts, or the full JCT suite of contracts. The advice we give will differ depending on the arrangements, but the cover will remain the same.

The market for property insurance for structures in the course of renovation/refurbishment is very small – and for bespoke, JCT compliant contract works insurance of the type we offer, even smaller.

Our package offers full control, the widest cover, triple A rated insurers and the peace of mind that expertise and support is available in claims and contentious situations.

We genuinely believe we offer market-leading products; not just in terms of cover, but in terms of the quality of our markets, and our knowledge, expertise, advice and support. We tailor our offering to meet the exact needs of each client and we ask them to consider us as part of their professional team; available at all times to deal with problems, liaise with the other project professionals, and to modify and re-shape the cover if required.

Ultimately, we aim to offer full peace of mind and full control. 

As well as offering an excellent service and product range, we also offer our broker partners specialist support too. Components such as CPD training and access to an online broker portal enable them to generate quick indications of cost, full quotations, and to generate policy documentation instantaneously once cover instructions have been received.

You can contact us about your Claim in a number of ways. You can call us on our dedicated Claims line (01480 768 799) or email us at claims@renovationunderwriting.com. Our Claims line is manned from 9am to 8pm, Monday to Friday. You can also liaise with your Broker who will advise us of your Claim accordingly.

Our dedicated Claims Manager oversees the Claims process for all policyholders from first notification through to settlement.

All available information will be reviewed by our dedicated Claims Manager. You will then be contacted to discuss the next step in the Claims process, specific to your situation.

Each and every claim is different and may require a number of varying stages. You will be advised on realistic timescales when our dedicated Claims Manager contacts you.

The most important thing is that the claim is reported promptly to minimise any further damage to your property and to rectify the problem as soon as possible. This will in turn lessen the impact on the timeframe of your affected Renovation project.

You will need to complete the claim form and supply any supporting documentation, such as estimates for repairs or replacements; original purchase invoices; images showing the extent of the damage; retaining any damaged items for inspection purposes; and submitting damage reports where necessary and the police case reference number where applicable.

Each claim is unique and you will be contacted as to what information is needed or outstanding in order to expediate your Claim once your submission has been reviewed by our dedicated Claims Manager.