Carrying out major home renovations can boost the value of your property, but it’s sensible to buy renovation insurance to ensure you are protected against the risks involved and don’t end up paying the price if something goes wrong. Here’s what you need to know.
Renovation insurance is a type of insurance policy that is specifically designed to cover all the additional risks associated with home renovations. It will provide protection against damage to structures being built, and provide cover against injury for those carrying out the renovations.
image credit: Future PLC
A standard home insurance policy won’t usually cover you for these additional risks or it will have specified limits in place. This means it won’t be appropriate if you’re planning extensive home renovations such as a loft conversion or any structural alterations.
The cover provided will vary depending on the policy, but typically you should be covered for:
Before starting any type of home renovation work, it is important to make sure you have adequate insurance in place to protect you if someone gets injured or your home is damaged during the renovations.
For fairly minor home improvements, such as the installation of a new kitchen, it’s worth contacting your current insurer to double check whether your standard home insurance policy already provides sufficient cover. It’s best practice to inform your insurer of any work being carried out on your home anyway.
But for more substantial home renovations you will need to take out a separate renovation insurance policy; an insurance for building works.
‘You’re not legally obliged to have renovation insurance, but if your home insurance policy is restricted during your project, you may have an exclusion that applies when damage is caused by the works, or your existing policy may actually be invalidated by structural works,’ says Brooke Crisp from Renovation Plan.
‘In this case, you will be relying on your contractor’s public liability policy to cover any potential loss. This could cause problems as it would only provide cover in the event of the contractor being negligent. The contractor would also not be providing cover for any existing structure which is there at the moment (i.e. your existing home itself).’
Image credit: Future PLC/ Colin Poole
The cost of renovation insurance will depend on a range of factors, including the expected length of the project, the estimated costs, the scope of the work being carried out, as well as the rebuild cost of the current property.
‘When purchasing renovation insurance, it is important to engage with your insurer as early as possible, providing them with as much detail as you can,’ says James Vaughan, development underwriter at specialist insurer Hiscox.
‘Some insurers have a preference of 30 days’ advanced notice of the project starting. Due to the complexity of building works, insurance quotes can often take longer to produce compared to a standard home insurance policy.’
When comparing renovation insurance quotes, it’s important not to simply pick the cheapest one you find. Instead, make sure you check exactly what’s included in the policy and whether there are any exclusions.
‘Customers should be clear about what is going to be involved in the renovation such as timeframes, materials used and whether the home can be occupied whilst all the works are being completed,’ says Sarah Smith, head of home underwriting at LV= General Insurance. ‘
‘They should also understand any special terms, limits and conditions that will apply whilst the renovation is underway. This will allow the customer to check the cover meets their needs before purchasing.’
You can buy renovation insurance from a specialist insurer or broker online, such as:
Some renovation insurance policies will provide continuous cover once the work is complete. But if not, you will need to revert to a standard buildings and home contents insurance policy, checking that you have the correct level of cover.
‘Renovations could add value to a property as well as the value of household contents,’ says Vaughan. ‘It is important to update the policy to ensure that the right insurance cover is in place.’
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Featuring one of the standout prints of the year, the gingham cushion from John Lewis & Partners’ ANYDAY range, sold out in record time when it launched earlier in the year. And with a price tag of just £15 it’s easy to see why.
Now back in stock and ready to be snapped up in a jiffy, the cushion sporting one of the biggest home decor trends is available in three pared-back shades. The plaster pink colourway is giving us all the summer feels, while the blue option has a certain ‘Je ne sais quoi’ about it. The third colourway is a beautiful natural shade, perfect for those who prefer a more neutral feel in their homes.
Image credit: John Lewis & Partners
But it’s not just its inexpensive price that has made the gingham cushion from John Lewis & Partners’ ANYDAY range such a hit with a plethora of social media influencers and homeowners across the country. Featuring a pretty gingham print, as well as frilled edging too, it ticks off not just one, but two huge trends for this summer.
However big trends don’t usually come cheap.
Image credit: Projektityyny
At £68, this Wes gingham frill cushion from Projektityyny, has a more delicate frill to it and a slightly smaller print. Made from 100% linen it might be a more luxury offering, but costing over £50 more than the John Lewis dupe, it’s more of an investment piece than a payday pick-me-up.
John Lewis’s ANYDAY range has been a huge hit since it launched last year, bringing ‘quality you’d expect at prices you wouldn’t’. And offering such an on-trend homeware piece for such a low price, is a great example of how small changes, can have a big impact in your home.
Image credit: John Lewis & Partners
Layered up on a bed, or scattered as sofa cushions, the gingham goddess will elevate your home decor all year round, offering both bedroom ideas and living room ideas. Machine washable, any spills or stains from a box-set binge, or water-marks from an afternoon nap, can easily be removed.
Image credit: John Lewis & Partners
But don’t leave it too late to grab yours, as sales are already said to be soaring and it won’t be long until this bestselling is sold out once again!
The post This bestselling designer-dupe cushion from John Lewis will save you over £50 appeared first on Ideal Home.
