If your clients have never embarked on a building project before, they may be unsure of the steps to take to ensure they have appropriate insurance cover. So, how could you help in this situation?
FMB Insurance offers some guidance on the type of insurance that should be considered for both you and your client to ensure you have the right cover before building work starts.
Protecting your work
It’s vital to check you have the right levels of cover before you start each new project. You should consider both your Liability Insurance and Contract Works Insurance to ensure you have enough cover for the size and type of project you are undertaking. You should also think about what tools, plant, and materials will be required for each individual project as well as any vacant sites or buildings that should be covered.
Helping your clients
Your clients should also be prompted to check their own insurance cover and to notify their insurer if they have not done so already.
Before the work starts, homeowners should advise their home insurance provider of any improvements or alterations that are to take place in their home. The insurer will need to assess the risk to the property during works and different restrictions might be placed on their policy. For example, if windows or exterior walls are removed in readiness for an extension, it means the property is temporarily more vulnerable to theft and damage. If the house increases in size and value or gains additional contents (carpets, curtains, etc) due to the building works, then the insurance will again need to adapt.
Homeowners should ensure they are covered both during and after the work takes place, otherwise their insurance may be invalid. The client should also advise their insurer if they are planning on leaving the property vacant whilst the work takes place in case they need to take out Unoccupied Buildings Insurance.
What else can you do to protect the build and your client? As a Master Builder, you can provide your client with extra peace of mind. The FMB Insurance Domestic & Commercial Warranties off er a wide selection of ﬂexible, insurance-backed guarantees that provide both the homeowner and builder with complete conﬁdence and assurance throughout the entire building process.
Cover is available for a wide range of projects such as porches, internal alterations, loft conversions, extensions and much more. There are different Domestic & Commercial Warranty products available depending on the needs of your project; from our Value policy, which is an entry level product for those on a limited budget, to our two-year, six-year and up to our 10-year warranty, which is exclusively available to FMB members.
Each of the policies protects against liquidation, faulty workmanship and structural damage to varying degrees, depending on which policy you choose. If you’re unsure which one you require for the project you’re working on, simply get in touch with us and we will be happy to assist.
Note: Visit fmbinsurance.co.uk for further information or call the team on 01353 652 760.
This article was published in the August / September 2020 edition of Master Builder; the magazine of the Federation of Master Builders. Click here to download the latest copy or click here to apply to join and gain unrestricted access to the back-catalogue.