Renovation insurance - is it worth it?

[yjones]

Hi,

Im in the process of buying a house. Its in need of complete renovation (new electrics, plumbing, kitchen etc...)

Is it worth me getting some kind of specialist renovation insurance? Ive got 1 quote and it was for £500!

Surely (excuse my ignorance!) the trade person's insurance would cover any damage, accident etc... ?
What does renovation insurance cover me for?
Would I be mad not to get it? What are the best insurance companies to get it through?

Thanks

 

[Brigade77]

Well it would be a good idea to cover for theft for one thing.

I'm out of the business now but I know developers/builders who employ security guards to stay at empty properties overnight once the 2nd fix starts.

 

[yjones]

Well it would be a good idea to cover for theft for one thing.

I'm out of the business now but I know developers/builders who employ security guards to stay at empty properties overnight once the 2nd fix starts.

Wouldn't the builders' insurance cover them for theft?

 

[Brigade77]

Wouldn't the builders' insurance cover them for theft?

It might do. Best to ask your builder don't you think?

Personally, I always covered any potential losses myself for my own piece of mind. It's a small price to pay.

 

[^woody^]

Surely (excuse my ignorance!) the trade person's insurance would cover any damage, accident etc... ?

And what if the builder is not to blame or the event is nothing to do with him?