Building Insurance

D

deesmith

Registered User
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Hi can somoene tell me if we need building insurance when we are building our house. It will be done direct labour and we are hiring a project manager.
 
You'll certainly need Building Insurance if you're borrowing money to build - the lender will insist upon it.
 
Is this house insurance that you are talking about? or is there actually an insurance for literally building a house? Some one told me that if a builder fell on a site they could claim from the site owner. Does the builder not have to their own insurance?
 
In a self-build case you definitely need specific self-build insurance. Mainly for the lender's requirements and to insure the building as it progresses, but also to protect yourself in the event of any liability claims. Yes ideally your tradesmen will all have their own insurance but there will be people on site who may not, for whatever reason.
 
Hi, I would advise that you take out self build insurance. This covers you for public liability,i.e., members of the public wandering onto your site (nosey neighbours mostly) and builders having accidents on site etc. You will find that most trademen especially roofers do not have their own insurance as it is very high. And roofing is the most dangerous of the trades you will employ. I recently have built my own home and I got a policy with Hibernian. It cost the bones of 3k but worth it for peace of mind. It lasts the duration of the build and also includes theft of tools, materials etc and fire, storm and flood damage. What is important to remember is because you are building direct labour, you are as such the employer and are responsible for the health and safety of your employees.
 
Hi,

As said, it is advisable to take out self-build insurance and there are a few companies around that offer it..

I think it's pretty well covered in this article
 
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