Insurance half way through a project?

[ashthekid]

There is a possibility of our contractor walking away from our self-build conversion project. 

If that happens can I take out my own site insurance to continue the works myself?

Or does an Insurance company only allow a policy to start at the beginning or end of the project?

 

[markc]

Yes you can take out insurance and continue yourself.

they may ask for details of why the contractor walked out … was it something todo with the work already done, possible complications etc.

[saveasteading]

When we contacted insurance companies, one expressed surprise that we had not started the works yet.  'Correct but unusual'.

The implication was that most people either don't think about it for a while, or only apply when there is an issue.

The latter is what would concern them of course, so they will ask questions.

 

As insurers like to collect the premium but not pay out, they would likely research earnestly if you made  any claim. So be sure to tell them of any issue, perhaps trivial,  that they might see as an excuse in the future.

[Temp]

I don't recall being asked when or if we had started already. They just wanted to know when we wanted the policy to start. I suppose there might have been something in the small print but i never looked.

[nod]

1 hour ago, Temp said:

I don't recall being asked when or if we had started already. They just wanted to know when we wanted the policy to start. I suppose there might have been something in the small print but i never looked.

Plus 1

 

Its nothing to do with them what your contractor is doing or not doing 

I’d just ask for site insurance 

[saveasteading]

Unless you know of a problem?

[ashthekid]

There are no problems, it's more a financial to be honest.