Contractors All Risks (CAR)

[Kev1964]

If I’m employing a building contractor who provides CAR cover for the duration of the project ….do I still need my private home buildings insurance policy….or can I safely cancel it?

 

[Leo]

Will all your possessions be removed from site? Are they taking full control of the site to exclude all others? If not, I'd look to maintain at least basic cover in case the contractor's insurers claim you were in control of the site and so the accountable party in the event of an issue when the contractor wasn't on site.

One of the benefits of maintaining home cover is you and your family, if applicable, will have 3rd Party Liability cover outside the home.

 

[galway]

I am pretty certain in the past (Quite a few years ago) I had to have Building Insurance before I could draw down a stage loan
not sure what is the present setup,

 

[Loki1974]

I can confirm with certainity that you do need to maintain buildings cover and notify your Insurer of any works. A Builders CAR policy only covers the new works and specifically excludes any existing structure. If there was a fire , it is only the new works ie the new extension which is covered, your home will not be. Also if you don't tell your insurer about the works being carried out , they will likely decline any claim for damage to your home, if they were not made aware of the planned works.