Fire Cover for a build

[thespecialon]

Hi,

I am about to begin building shortly on my own site,and one stipulation on my mortatage being released is I have fire insurance for the duration of the build.

Firstly- Anyone have a recommendation as to which company offers the best value?
Secondly- Should the value of the fire cover equal the amount of my mortatage?The value of the house when built? OR what?

Thanks,
T.

 

[Ravima]

it should be for the rebuilding cost of the finished house. You migth also want to take out storm cover and if direct labour, what about employer and public liability? You will not need these a sa requirement for the mortgage, but in the event of a claim, the injured party could put a judgement mortgage on the house, even before it was finished. that would certainly complicate matters viz a viz you and bank when seeking further money to complete!