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Insurance for extension

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  • 04-12-2020 5:32pm
    #1
    misc2013
    Registered Users Posts: 251 ✭✭


    We're buying privately while preparing for an extension. Rational was to prepare for extension and find out cost before proceeding with purchase to be confident the purchase was worth it. So now we're shopping around for home insurance. I presume we'll need to get insurance based on a planned extension? Is it much more expensive?
    Thanks.


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    #2
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    misc2013 wrote: »
    We're buying privately while preparing for an extension. Rational was to prepare for extension and find out cost before proceeding with purchase to be confident the purchase was worth it. So now we're shopping around for home insurance. I presume we'll need to get insurance based on a planned extension? Is it much more expensive?
    Thanks.

    Not really it’s all based on the rebuild price
    You could buy a house for 600k and the rebuild cost might only be 300 k
    The extension will not add a lot to the cost of insurance
    Just make sure the full rebuild cost is covered in the policy
    Rough figures
    My mother recently renewed her policy
    275 rebuild 50 k contents 330 euro
    House worth about 350 k


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    #3
    AnRothar
    Registered Users Posts: 570 ✭✭✭AnRothar


    Consider getting specific insurance to cover the construction project.
    This would be separate from your house and contents insurance.


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    #4
    markpb
    Registered Users Posts: 9,306 ✭✭✭markpb


    AnRothar wrote: »
    Consider getting specific insurance to cover the construction project.
    This would be separate from your house and contents insurance.

    What would that cover?


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    #5
    misc2013
    Registered Users Posts: 251 ✭✭misc2013


    AnRothar wrote: »
    Consider getting specific insurance to cover the construction project.
    This would be separate from your house and contents insurance.

    Would that not be up to the builder??


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    #6
    notharrypotter
    Closed Accounts Posts: 1,112 ✭✭✭notharrypotter


    What would that cover?
    Things that go wrong.
    Would that not be up to the builder??
    Does the builder have insurance?


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    #7
    AnRothar
    Registered Users Posts: 570 ✭✭✭AnRothar


    notharrypotter wrote: »
    Things that go wrong.

    Does the builder have insurance?
    Not all builders have insurance.


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    #8
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Ask your potential insurer how much it's going to cost to add the additional cover for the extension at a later date.

    I can't help but think you're overthinking this a little. To be honest I don't see it making a significant difference to your premiums either way, an additional 50k - 80k of cover isn't likely to cost much.


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    #9
    notharrypotter
    Closed Accounts Posts: 1,112 ✭✭✭notharrypotter


    :D:D
    AnRothar wrote: »
    Not all builders have insurance.


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