House insurance during and after construction or not at all.

[barney118]

A couple of discussions topics I have, unfortunately this is one of the necessary evils of modern society :
1. At what point in time does your house insurance cover you if you have made modifications? Assuming you have followed proper process, ie D/A approval. I would imagine that once you have the final completion certificate then you would be covered.
2. If you don't take out home warranty insurance then if 1. is complete then would your existing policy cover you? would you need to upgrade/change your policy once this is done.
3. What if something happened (ie fire) and you are part way through the build and you have completed your D/A but not had the final inspection sign off but passed all the steps along the way would you have a valid argument that you should be covered under your existing arrangement.
4. Has anyone had experience in these areas?

[Cecile]

A couple of discussions topics I have, unfortunately this is one of the necessary evils of modern society :
1. At what point in time does your house insurance cover you if you have made modifications? Assuming you have followed proper process, ie D/A approval. I would imagine that once you have the final completion certificate then you would be covered.
2. If you don't take out home warranty insurance then if 1. is complete then would your existing policy cover you? would you need to upgrade/change your policy once this is done.
3. What if something happened (ie fire) and you are part way through the build and you have completed your D/A but not had the final inspection sign off but passed all the steps along the way would you have a valid argument that you should be covered under your existing arrangement.
4. Has anyone had experience in these areas?

I worked in insurance for a long time but have been out of it for ages. The place I worked, a very large, reputable organisation, required anyone doing buildin/renovation works to notify them. Parts of the policy would not operate in a renovation situation, and strict criteria would have to be met. My suggestion would be to talk specifically to your general insurer (but be aware that many folks in their call centres have very little understanding of detailed underwriting processes. Alternatively, have a chat to a broker and buy a temporary policy that covers all events (water damage where building has been opened to the elements, fire etc. If you're an owner-builder you most likely will need a very specialised policy.