Broker recommendations for Self Build Insurance, taking on existing project

[Malc]

Hi,

 

I'm looking for broker recommendations, anywhere in uk.  Someone who will take on insurance on an existing project.  I've been directed to BIBA and found https://www.biba.org.uk/find-insurance/buildings-contents-self-build/ which returns 39 pages of results (10 to a page).  That's a lot brokers to contact.  I working through this list, nearest first for the want of any other option.  I'm not having any joy.

 

Any suggestions?

 

FYI my current insurer has refused to renew after accusing me of abandoning the project.  They backtracked on that when I said I could prove the project was not abandoned and that I wanted an apology for implying I am liar.  But they still refuse to renew saying the risk increases on projects that are long, saying that 2yrs is the normal limit for their self-build insurance.  Clearly they haven't watched Grand Designs etc. where projects that finish in under 2yrs are few and far between.  And I'm a literal self builder.  As on Grand Designs etc. things never go to plan and unexpected family issues meant I wasn't able to spend the time on the project I thought I would, but that's not the same as abandoning the project, it still moves forward, just half as fast as I would like.

 

Thx

 

[Gus Potter]

2 hours ago, Malc said:

FYI my current insurer has refused to renew after accusing me of abandoning the project.

That's a bad show. 

 

Hope this gives you a few pointers, some points you will already be aware of, but this post is also intended to help others that may be in a similar position to you. You are not the first to have an extended project so take heart from that. 

 

I've recently had a Client who started a project under their own steam, but their financing arrangments changed and they needed a warranty retro actively for lending purposes. 

 

But you are specifically talking about an insurer. Is that just say for public liability, contents etc. But say, for all on BH this is for warranty (10 year) purposes, like an NHBC warranty. 

 

In your case I think the starting point is to show that what you have built so far is ok. You are going to have to do a bit of work! Gather together all the site record photos you have, invoices and so on, itemise who did each part of the work so far. Put that in a big folder, even if it looks spurious! This is your evidence base.

 

Next step is to contact your original design team and ask if they can help. You should indicate that you are willing to pay for this service. Sound them out, even if you offer say £200 quid for a quick consultation. Be proactive with the cash!

 

Now they may not want to get involved. Very occasionally I do this, but only if I'm going to get a fair days pay for a fair days work. But when I do I  give it full pelters and you need to be willing to pay about £ 275 - £300 quid a day for my time. So if you take my rate then anticipate / compare that your design team may charge similar. Make no mistake, I'm not touting for work as your design team already have a head start.

 

When I get involved I look at two primary things. First is what evidence do we have that what you have built is ok and how do we package that up so a broker / insurer will be interested in quoting for something that carries a higher risk. Have any site inspections been carried out by the insurer that has stepped awy from this? If you have record then this is good evidence. 

 

As an SE I'm very aware of risk, as are my insurers. It's about putting something together that insurers can quickly understand and engage in the detail that leads up to a quotation you can live with.

 

You can almost insure anything. In your case the premium will likely increase, but if you present well you may find that more than one insurer will be interested. 

 

As a final word of encouragement. A recent Client got the run around from Protek admin, but once we elevated that to director level they were great... but we had to do a lot of leg work first for them to recognise we were not trying to take the piss out of them. 

 

 

3 hours ago, Malc said:

As on Grand Designs etc. things never go to plan

I bet they don't..there will, I suspect be all sorts of agreements, maybe some NDA', side marketing and product placement deals.