Insurance During Extension Build

[Ecthelion]

Hi all. We are starting a large extension/renovation project in the next couple of weeks. I'd previously phoned my insurance company, Admiral, to let them know and they said fine, phone back when we had a start date. Now that we do, I called and they said they'd have to refer it to the underwriter as the contract value/duration is longer than they usually deal with.

I'm worried that they will decline to provide the additional cover, and I'll have to find a specialist insurer at very short notice and at great expense.

To those of you who've completed a large value renovation can you let me know whether:

1. Your existing insurer covered it and if so there was an additional charge?
2. If you had to take specialist renovation insurance how much did it cost and who was it with? I read a couple of places saying it could cost 5% of the project cost, which seems crazy!

We will be living in the property through but it's a big project, with lots of structural work (walls down, chimney out) and landscaping hence the expense.

We lived out but left furniture in the house so went with Hiscix as so comprehensive. Other policies would insure the new bit but not the old bit

We’re part way through a similar project. Our insurers were fine as long as we didn’t stay away over night.

Thanks both! @whyisitsodifficult do you mind if I ask who your insurer is?

Our insurer is Halifax. Our premium pretty much doubled, but as soon as all external structural work was complete I let them know and the premium dropped down again. They refunded the difference.

We were with John Lewis when we did our extension and they extended cover at no extra cost. It had to be agreed but it didn't take long to do.

@Ecthelion it’s esure.

Thanks everyone. I thought I'd give an update just for anyone in a similar situation reading this in future.

I had to cancel with Admiral and user a broker to find another insurance company. Their standard limit is £75,000 for a project. They may go higher but you'll have to jump through hoops and send the underwriters a copy of schedule of works/contract/etc. I was working on getting that information but the timescales they gave me were too tight - 7 days - and they were going to cancel my entire insurance policy if they didn't have it by then. The stress was too much so I just swapped to another insurer who were willing to cover it. It cost another £150 but I expect Admiral would have charged me as much anyway.

The lessons are:

1. When you phone to let them know work is starting leave plenty of time but also ensure that you tell them the scope (cost and length of time) of the contract at that point.
2. Try and get a schedule of works from your builder before letting your insurer know. Also have a copy of the contract (usually JCT in England, or SBCC Minor Works in Scotland) as they'll ask for that.
3. Go to a broker if there are any issues - they'll be able to place you with someone
4. Ensure you have a Plan B. You don't want to be left without insurance...

I just rang them. They didn't need anything except to more than double the premium!

I finally got the quote back from Hiscox and they wanted £6754 for the year with £2500 excess. I nearly fell off my chair.

Ridiculous. Well move to a. Ew company and never go back...mine doubled to £450