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What is Self Build Insurance NI
If you are lucky enough to own a plot of land with building permission, you will most likely wish to build your home to your exact requirements rather than buying a prebuilt house. Self build house are a common site in the NI with so many open spaces available and easy commutes. A self build is a big investment, and you probably wish to make sure you are covered for any potential;l loss during the build stage. This type of cover is different to standard home insurance as additional risk need to be included in the policy. Some of these include:
Will self build home insurance NI cover stolen building materials?
Yes, building insurance polices are available that will provide cover for theft from the building site. However, check the conditions, as this cover will normally only cover the building site if you have the site properly secured. This may involve erecting fencing with insurer approved locks and installing CCTV come. For exact qualifying conditions, you will need to refer direct with the policy provider.
Self Build NI Policies Available - Tailored to your requirements
These type of polices are provided by specialist insurance brokers. Each broker can make a policy tailored to your NI self build requirements, for example you may include house contents if nearing completion or if you are simply renovating an existing property,
Does the type of Self build NI Property matter?
The comparison quote service provided by Quotezone is for residential property only, not commercial. When completing the quote form include any information that makes the property non standard for example a thatched roof or a flat roof, a house build using a timber frame.
No, provided the property is residential rather than commercial you should be able to find a suitable self build home insurance policy to protect it.
However, one thing to bear in mind is that if the property is out of the ordinary in some way (if it is going to have a flat roof, for instance, or is being constructed with a timber frame) then you will need to let your insurance provider know about that, and it is possible some insurers might hike the premium or refuse to insure you.
Will the Builder's Warranty provide sufficient Cover?
The builder's warrant may have limitations, for example it may only offer cover after the building is completed, which would leave you uninsured during the self build stage. The builder's cover is normally limited to negligence on the builder's side. So in the event of a storm or flood that destroys or damages your new build home, you may again be left uninsured.
*51% of consumers could save up to £146.11 on their Home Insurance (Building & Contents). The saving was calculated by comparing the cheapest price found with the average of the next six cheapest prices quoted by insurance providers on Seopa Ltd’s insurance comparison website. This is based on representative cost savings from March 2022. The savings you could achieve are dependent on your individual circumstances.