ASK THE EXPERT


Protect your project


James Parker speaks to Jake Fitness, operations manager at Self-uild one, about why specialist insurance is essential for protecting your self-build project, satisfying mortgage


lenders and safeguarding your investment.


DO I REALLY NEED TO INSURE MY PROJECT AGAINST SOMETHING THAT MIGHT NOT HAPPEN? Yes, because the risks on a self-build project are unpredictable and can be fi nancially devastating. Events like fi re, theft, storm damage, or vandalism are rare, but when they do occur, they can halt your project and lead to major unplanned costs. Self-build insurance is designed to protect your investment at every stage, giving you peace of mind while work is ongoing.


WON’T I BE COVERED BY MY BUILDERS’ INSURANCE? ot fully. Your builders insurance typically covers their own liabilities, such as injury to workers or damage they cause  but it doesnt usually cover your structure, materials, or the overall project. As the project owner, you remain responsible for insuring the build itself, including site risks and partially completed works.


WHAT SPECIFICALLY DO I NEED TO MAKE SURE I AM INSURED FOR? A comprehensive self-build policy should include: • Contract works (the build itself) • Site materials onsite and in transit • ublic and employers liability • Existing structures if renovating • Tools and plant (if applicable) • on-negligenceparty wall cover if required)


The key is to ensure cover matches your build type, value and level of involvement.


CAN INSURANCE HAVE AN IMPACT ON MY SELF-BUILD MORTGAGE? Yes, it can. Most lenders reuire proof of adeuate insurance before releasing stage payments. ithout the right cover in place, funds may be delayed. Having a suitable policy reassures lenders that their investment and yours are protected throughout the build.


WHAT DO I NEED TO LOOK OUT FOR WHEN PURCHASING A POLICY? ey things to check include the level of cover and the sum insured, making sure it refl ects full rebuild costs. Also consider the policys fl exibility to adapt as your project evolves and progresses, and the duration of cover, ensuring it matches your build timeline. Its also important you understand the excess levels and any potential exclusions, and that you know whether it also includes public liability


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