Other House build insurance

[G-man]

Hope someone can help,

We are in the process of buiding our house. Our builder has his normal insurance.

Is there any seperate isurance that we should be taking out. i.e what if the builder goes bankrupy half way through the build etc.

thanks

G

 

[peteb]

You could take out buildings in the course of construction cover if the bank needs cover in place for releasing stage payments once the site is still unbuilt on. If its commenced already, its too late.

And you don't necessarily need that. However you wont be able to insurance against the builder going bankrupt!