Specialty Buildings Insurance
Most people understand that if you have a mortgage you must have, at a minimum, buildings insurance to cover the structure of your property. But what many don’t realise is that there are also types of specialist building insurance that cover non-typical scenarios. Below are some of the primary ones.
Self-Build Insurance
Self-build insurance covers a structure and its owners during the building process when the owner is building their own home. Self-build insurance covers a wide-variety of situations that might occur, including:
• Liability as an, ‘employer,’ which applies if a friend or volunteer is injured and decides to make a claim. This policy protects you from any liability as an employer.
• Further liability, which extends cover to protect against claims by a third-party who is injured.
• Public liability ensures you are protected against claims from members of the public or passers by who might be injured in some way.
• Existing structure cover ensures that the lender’s interests are noted.
• Cover in the event of contractor and/or supplier disputes. This includes any sub-standard work or materials.
Holiday or Expat Home
Anyone who spends a great amount of time away from their home can fall victim to their standard buildings insurance policy being voided. Specialist building insurance provides that much-needed cover.
Work from Home
This is useful when your buildings insurance does not cover home office equipment; some policies automatically cover up to £5,000, others do not.
Student Circumstance
These specialist policies take into account the insecure nature of rental contracts for student accommodation.
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