Help - Builders Insurance :(

Soldier

HI Everyone

i got a few quotes for self build insurance crazy at 2300 but i have heard from a few ppl now you dont need this. 2 people have told me they have only spend a couple of hundred. can anyone give me advice on what is really necessary? hoping to start this friday so I really have to get on it thank you in advance.

sunnysoutheast

In short, yes you do. Recommend you check with a solicitor for the legal position, you may be surprised as to the level of responsibility you have.

You need employer's liability, theft/damage and public liability cover at least. If you're going direct labour you'll also be legally liable for health and safety on site.

If you are doing a turnkey/shell build then the contractor should have their own insurance but that will cease when the contractor finishes up, it'll also be complicated if you want to do any work with your own contractors before the site is "handed over". You'd be unwise to rely on contractors having their own insurance IMHO. You won't be able to get a standard buildings cover policy until the house is finished and occupied.

A rough guide price for a standard 2 year policy is about 75-100c per sq. ft. You need to take the policy out before work starts.

Remember the policy will basically pay for itself if, say, your kitchen or bathroom fittings are stolen, the level of thieving from sites is unbelieveable.

If some trespassing noseyhole falls off the scaffolding and makes a claim it'll be the best money you ever spent.

SSE

sinnerboy

get this wrong and you could lose everything

You need cover for

Public Liability
Employers Liability

and

Contractors All Risks - to insure the physical works ( walls , windows etc roof timbers etc ) during the build

dlambirl

OP, you definitely definitely need this.

We got ours from Hibernian for around €250 for a c. 3500 sq ft house. We got it for 3 years (yes it took that long - we did everything ourselves!!)

sunnysoutheast

dlambirl - do you mean €250 or €2500?

I assume the latter. If it's the former they'll be very busy......

SSE

dlambirl

nope €250 although it went up to €300 for the last year as they said that we'd took too long.
We got it from a broker.

sunnysoutheast

Blimey that's cheap - for a self-build policy with all risks etc.?

Must be very honest people where you live......

SSE

sinnerboy

That is too cheap . Seasoned contractors do not get insurance that cheaply.

Can you re check - are you sure you got EL / PL / + CAR - and what risk ( € amount ) was covered in each case

You house in finished ( yes ? ) So in your case it is academic . But i would be interested if you would be kind enough to re check please


.

De_man

dlambirl wrote: »

nope €250 although it went up to €300 for the last year as they said that we'd took too long.
We got it from a broker.

that sounds very much as if that was for the property only,
as SSE we paid 1euro per sq ft, to incl h&S documentation & 1 site visit
by safety eng

rebellad

We paid €1700 for EL / PL / + CAR, for a 2700 sq ft house and 400 sq ft garage.

Soldier

Hi rebellad

who did you go with