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Renovation insurance

Will building renovation affect my home insurance?

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Written by  David McDermottroe
6 min read
Updated: 05 Feb 2024

If you’re spending time and money on renovating your home, you’ll want to ensure you have the right home insurance cover to keep you protected

Navigating the ins and outs of home renovation insurance

When you're about to embark on a home renovation project, the excitement of choosing new fixtures and imagining the end result can be overwhelming. But before you dive into the world of renovations, there's a critical aspect you shouldn't overlook: home renovation insurance.

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Restoring a house

What is home renovation insurance?

Home renovation insurance acts as a safety net for your property while it undergoes significant changes. Whether you're planning to knock down walls or add an extension, this type of insurance is designed to protect you from unforeseen events that could otherwise derail your project. It's a layer of security against incidents such as collapsed walls, fires, theft, or injuries occurring on your property during the building work.

Coverage essentials for your renovation project

Embarking on a renovation means your home will be a hive of activity from start to finish. Home renovation insurance is tailored to cover a range of scenarios during this period:

  • Damage to your building and contents during renovations, including fire and flooding

  • Subsidence or landslip as the work progresses

  • Any harm to neighbouring properties that might occur

  • Theft of building materials, tools, and equipment

  • Loss or damage to personal possessions

  • Issues arising from the property being unoccupied for extended periods

  • Public and employers’ liability for any injuries on-site

  • Legal cover for disputes with tradespeople

After the dust settles and the work is complete, it's wise to compare standard home insurance policies to ensure your newly renovated home continues to have the best coverage.

Understanding the exclusions

It's crucial to note that most standard home insurance policies will not cover major renovation works, as they inherently increase the risk of needing to make a claim. You'll likely need separate cover for:

  • Accidental damage to your building and contents

  • Theft of contents and building materials

  • Personal accidents

  • Legal cover if you encounter issues with construction companies

Checking with your current home insurer

Before the first hammer swings, it's advisable to consult with your existing home insurer. Some policies may permit light renovation work, but it's essential to confirm this to avoid invalidating your policy. Even minor alterations can affect your coverage, so full transparency with your insurer is key, especially for listed buildings.

What your insurer needs to know

When you inform your insurer about your planned renovations, they'll have a few questions to gauge the risk involved:

  • The total cost of the renovation

  • How long the work will take

  • Whether the property will be unoccupied during the project

  • Details about the builders or contractors, including whether they have public liability insurance

Will renovations affect your premium?

The impact on your home insurance premium varies with the nature of the renovations. For example, an extension may increase your premium as the cost to rebuild your home in the event of a claim could rise significantly. If you find your premiums soaring or your coverage lacking, it's worth comparing quotes through MoneySuperMarket.

Comparing home insurance post-renovation

Once your renovation is complete, comparing home insurance policies is a smart move. MoneySuperMarket offers a platform where you can weigh options from a panel of providers. Remember, it's not just about the price tag; scrutinize what each policy entails and review the fine print carefully before making a decision.

Renovating your home can be a thrilling and transformative experience. By understanding the ins and outs of home renovation insurance, you'll be well-equipped to protect your investment every step of the way. When the time comes to find a new home insurance policy that reflects your home's new value and features, comparing quotes with MoneySuperMarket can guide you to the right choice.

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