House Build Insurance

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Hi, I am about to start build in the next 10 days and want to find out about insurance - Originally i was quoted my my Bank for Home insurance around 350 euros. However , I tried Hibernian and they offer a specialisied House Build insurance that will cover Plumbers, Builders, Visitors to sight, any stolen goods from site, fires, scaffolding, roof falling off etc. The fee was about 1850.

Should i go for this more expensive option or will the normal house insurance do the trick? We are going direct labour and is approx 2500 sq ft property
 
to be safe you need specialised house build insurance 1850 is cheap when compared
to what can happen, there's several companies that offer this service
all are advertised in the self building magazines
 
In pretty much the same situation myself. As stated above you need specialised insurance for a house build which incorporates employers liability especially if you are going self build. My advice is to shop around, we have found huge variation in the quotes with the lowest at 1,500 for 24 months cover. good luck
 
Went with Hibernian too. They offered a 25% discount for the first year when you transfer the policy from site insurance to house insurance. We felt it was best to run with them as we built by direct labour and it was essential go have a full policy in place.
 
Basically you were quoted two different type of insurance policies. The first policy for €350 was for building under course of construction, which covers the building against fire and possibly storm and lightening. The 2nd quote from Hibernian was for a liability policy with some contractors all risk cover. If you are building direct labour you are the employer of the men on site. This policy covers you against injury to these workers as well as to the public. You will almost certainly need the former policy (the bank will usually insist on building insurance before releasing funds) and I would strongly recommend the later policy. You should do better on the quotations of both though. You should get the first policy for €250 and the 2nd for €1600 approx.
 
JimBobp - are you suggesting that we have to get both or will the House-Building Insurance cover both aspects
 
Unless Hibernian have said that they are including a building under course of construction policy in the price than you will have to get two separate policies. Check with them and get them to clarify that both the shell of the building is covered against fire etc whilst you are building it & that they are also covering your public/employers liability. I would think they are only covering the liability cover. Also make sure that the liability policy covers you for at least 24 months as the build can sometimes drag on.
 
self build policy includes cover for the actual property. You wont need in the course of construction policy!
 
Not necessarily. A typical self build policy will cover EL/PL & contractors all risk cover. They will often exclude work to existing structures and not include cover for lightning etc. Also a lender will often look for a specific building insurance indemnity letter to release funds. A building under course of construction can be transferred to a comprehensive policy once you move into the home.
 
i started building last week and was advised to get both. The course of construction policy was compulsory anyway as it is required by bank (PTSB)before issuing funds. The selfbuild policy is for my own protection. This is a completely seperate product and covers contractors, public liability etc. In my opinion you would be mad not to get this - although i dont think it is compulsory. You would hope nothing would happen but if a builder falls off your roof and ends up paralysed god knows what it would cost you.
 
Hi,

We are about to start construction and are going with a main contractor for all the work - he is going to have to prove his insurance certs to us before he starts. Do we still need to get separate public liability ourselves??
Also, getting very high quotes on just covering the building (over 400) - which I find a bit steep considering it is just a field now! Also it is based on house valuation rather than rebuild cost which is over 100K lower.
Any suggestions on where to get better rates would be great!
Thanks
 
Help,
We are 3 quarters of the way thorough our self build at the moment and dont have any insurance for site/ house. We have been doing the build ourselves and now have to employ some specialised tradesmen to finish of the house for us. WE expect to be livining in it in the next 3-4months.
What sort of insurance do I need to have before I let these guys start to work on our house. Excuse my ignorance as this is all new to me. Do you know of any companies that specialise in this sort of insurance.? Appreciate your help.
 
Re: House Build because of fire

Hi, We have just had a fire in a 3 bed terres house and are covered by buildings insurance only to the value of 200,000. They have not agreed on any costs yet but has anyone any idea how much it will all cost. The total inside top to bottom will have to be refurbished, including new kitchen? We are still waiting on contractor to come back to us but it takes so long.
 
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