Triassic Posted September 23, 2019 Posted September 23, 2019 My Two year self Build Insurance runs out in November. I still have around twelve months work to do to get finished. What are my options when it comes time for renewal? I recall reading that getting a renewal / extension can be problematic ? Options?
Thedreamer Posted September 23, 2019 Posted September 23, 2019 (edited) On 23/09/2019 at 19:35, Triassic said: My Two year self Build Insurance runs out in November. I still have around twelve months work to do to get finished. What are my options when it comes time for renewal? I recall reading that getting a renewal / extension can be problematic ? Options? Expand Mines up in March, so interested in any comments as well. Although I would hope to be finished by then. Just one further comment I would like to ask, is when you can move onto a standard residential policies, before the completion certificate? Edited September 23, 2019 by Thedreamer
CC45 Posted September 23, 2019 Posted September 23, 2019 Mine is now on quarterly renewals - its been 4 years since we started. Same annual price but just 4 times a year - a right pain more than anything. 3 years wasn't a prob so can't see you having too many issues.
nod Posted September 24, 2019 Posted September 24, 2019 On 23/09/2019 at 19:35, Triassic said: My Two year self Build Insurance runs out in November. I still have around twelve months work to do to get finished. What are my options when it comes time for renewal? I recall reading that getting a renewal / extension can be problematic ? Options? Expand We had the same dilemma Thought it would be tricky But turned out to be quite straight forward in the end Though they did ask loads more questions about furniture and things One example was if we moved our plasma tv in and it was damaged or stolen We wouldn’t be covered I didn’t like saying that we could barely afford a tv licence
newhome Posted September 24, 2019 Posted September 24, 2019 On 23/09/2019 at 20:21, Thedreamer said: Just one further comment I would like to ask, is when you can move onto a standard residential policies, before the completion certificate? Expand Whenever I would say. Many people on here have moved in way ahead of any completion certificate being issued. You could ask for a temporary habitation certificate if you want to really make it official but that will no doubt trigger things such as council tax or whatever. You can use that certificate to trigger your VAT reclaim however if you want the money back before you completely finish. 1
Bitpipe Posted September 24, 2019 Posted September 24, 2019 On 24/09/2019 at 11:28, newhome said: Whenever I would say. Many people on here have moved in way ahead of any completion certificate being issued. You could ask for a temporary habitation certificate if you want to really make it official but that will no doubt trigger things such as council tax or whatever. You can use that certificate to trigger your VAT reclaim however if you want the money back before you completely finish. Expand We did this and had over 18 months of residential insurance before the completion cert was issued (delays on external items). Bit grey as to whether this was an issue - I scrutinised small print to see if a completion cert was required but never found anything - but then I suspect that only if a claim arose you would really find out.
newhome Posted September 25, 2019 Posted September 25, 2019 On 24/09/2019 at 11:44, Bitpipe said: Bit grey as to whether this was an issue - I scrutinised small print to see if a completion cert was required but never found anything - but then I suspect that only if a claim arose you would really find out. Expand We weren’t even living in ours when I got the insurance cover and there was still a significant amount to do internally even though the major ‘risky’ work was finished. I tried a few ‘normal’ insurance policies but was completely honest about the stage of the house and the lack of a completion certificate. All that I contacted said sorry they couldn’t help me so I decided a specialist policy was the only way forward. The last thing I wanted to do was obtain a policy and then find that as I hadn’t declared all of the circumstances that the insurance company refused to pay out on a technicality. Policies like those are worse than useless.
PeterW Posted September 25, 2019 Posted September 25, 2019 I’ve found GSE Southern to be really flexible and helpful for this non standard stuff. Best way is give them a call direct, don’t bother trying to do it on the website
mvincentd Posted September 25, 2019 Posted September 25, 2019 On 25/09/2019 at 08:20, PeterW said: GSE Southern Expand Do you mean GSI ? On 25/09/2019 at 06:27, newhome said: I tried a few ‘normal’ insurance policies but was completely honest about the stage of the house and the lack of a completion certificate. All that I contacted said sorry they couldn’t help me so I decided a specialist policy was the only way forward. Expand Did you successfully get a specialist policy?.....via who? Due to lack of completion cert' we have been refused contents insurance...i've tried loads of providers including 'specialists'. I've tried 'asset insurance' to no avail too. With Protek my build insurance has been extended multiple times without problem...the last time it actually expired for 2 weeks before i got around to renewing/extending it. It also remains valid if i live in the build.
PeterW Posted September 26, 2019 Posted September 26, 2019 On 25/09/2019 at 22:29, mvincentd said: Do you mean GSI ? Expand Yep sorry - autocorrect !
newhome Posted September 26, 2019 Posted September 26, 2019 On 25/09/2019 at 22:29, mvincentd said: Did you successfully get a specialist policy?.....via who? Due to lack of completion cert' we have been refused contents insurance...i've tried loads of providers including 'specialists'. I've tried 'asset insurance' to no avail too. With Protek my build insurance has been extended multiple times without problem...the last time it actually expired for 2 weeks before i got around to renewing/extending it. It also remains valid if i live in the build. Expand I couldn’t extend my self build policy. I tried but they said no to the extension so I went through Quoterack and sourced a specialist policy via a broker. It was just a standard house and contents policy in effect but it stated that it was a new property under construction and that it was currently unoccupied. I wasn’t able to get accidental damage cover at that point. The cover was £438 which is more expensive than my current policy including accidental damage today but I was happy to secure cover and it was still cheaper than the self build insurance. I know a couple of people who have tried to get a quote via Quoterack recently but didn’t have any joy. 1
andy Posted August 9, 2021 Posted August 9, 2021 On 26/09/2019 at 08:02, PeterW said: Yep sorry - autocorrect ! Expand Going back a bit on this one but I'm trying to sort out "normal" insurance and GSI not interested in a house without the final completion certificate. Struggling to find a normal insurer to cover this scenario...
andy Posted August 9, 2021 Posted August 9, 2021 On 09/08/2021 at 15:10, andy said: Going back a bit on this one but I'm trying to sort out "normal" insurance and GSI not interested in a house without the final completion certificate. Struggling to find a normal insurer to cover this scenario... Expand Finally found someone - hurrah! https://www.astonlark.com/
mvincentd Posted August 10, 2021 Posted August 10, 2021 Brokers Adrian Flux found me some with Midas Crown.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now