That’s the ideal solution because otherwise, in the event of a claim, you could have two separate insurance companies fighting over who is going to pay for which aspect of the damage. And that can massively delay you getting paid out.

The policy will cover your existing property and the building works in progress.

It’ll cover your Public Liability and, unlike most types of insurance, this renovation and conversion insurance policy can be flexible enough to cover when the works are actually taking place – not just for a fixed 12 month period. The policy can even continue to provide cover once the works are complete and the property is awaiting sale.

The renovation and conversion insurance policy can also be extended to include insurance for power tools, construction machinery, hired-in plant and legal expenses. It can also be arranged in joint names if required under JCT conditions. (If you’re not sure what JCT conditions are, please talk to one of our insurance experts and we will be happy to help and explain all the jargon!).

JCT conditions normally tend to apply when larger contracts/contractors are involved, and they usually stipulate that the insurance contract must be in joint names AND that a contractor can only be liable when he is negligent.

And this is a big issue, so what if a claim arises due to non-negligent injury or damage to any property whilst undertaking a building contract attributable to the carrying out of the works, but NOT due to any negligence of the contractor or design.

The right insurance policy can plug gaps in the cover.

Both residential and commercial properties can be insured. And, subject to the full details we need being provided, you can be instantly insured.

At Prizm Solutions, we deal with over a dozen insurers for this class of insurance, so we will find the most competitive one for you based on your individual requirements. This can depend on so many factors, it’s impossible to give an indication here – so please get in touch, we’d love to help