TYPES OF INSURANCE FOR YOUR RENOVATION OR NEW BUILD
Before any renovation or new build commences, having appropriate insurance cover in place is a requirement of all standard building contracts.
The building contract should specify the types and amounts of insurance cover that the main contractor has in place. The builder should have two main insurance cover types for the following:
• Accidental damage to the building (typically contract works insurance).
• Accidental damage to adjoining property, and in some cases, for personal injury (typically public liability).
Subcontractors may also be covered by the main contractor’s insurance policy. This is something that the main contractor will discuss with the subcontractors to ensure everybody involved with the build has insurance to protect both themselves and the owner.