Converting your loft, despite being considerably time-consuming, is also incredibly exciting. It will refresh your home in a way which will exceed all expectations, and although it can be difficult to put all elation and subsequent anticipation aside, it must be done in order to update your home insurance accordingly. Failure to do so could result in its invalidation and you could be prosecuted for not notifying the providers of your plans.
To ensure your loft conversion runs smoothly from start to finish, we’re presenting a guide to what you should do with your home insurance after you’ve made the decision to have your loft converted, giving it a new lease of life.
Conversion insurance and why you need it
It’s important that your project is covered by conversion insurance. This will help to protect you should things go awry unexpectedly. Conversion insurance will cover you for the project duration, including materials, tools and other equipment which may be needed to carry out your conversion.
It’s not uncommon for thieves to prey on construction sites and steal expensive tools and materials. If this happens, progress on your project could stop and you’ll have to spend considerable amounts replacing the stolen items. Conversion insurance can help you to replace equipment, ensuring your project gets back on track in no time.
Conversion insurance also covers accidents which have the potential to occur onsite. Depending on the amount of people that are involved in the loft conversion, the risk of an accident occurring could be considerably high. For your peace of mind, take out conversion insurance to protect all those involved in the construction.
Conversion insurance can also include coverage for legal fees and expenses. Any legal disputes, including contract issues, can be paid for with the help of conversion insurance, so cover all bases and take it out as soon as possible, prior to the commencement of your loft conversion.
Conversion insurance policy
Insurance needs to be organised before contracts are exchanged, this confirms that work is ready to be carried out and your project can then proceed. You must discuss your policy with a professional before going ahead, to make sure that the cover you have is both comprehensive and competitive. Obtaining the more appropriate conversion policy is paramount as it can help to solve a number of highly complex issues.
What happens if you fail to notify insurance providers of your loft conversion?
Failure to inform insurance providers of the changes you’ll be making to your home could invalidate your home insurance entirely. As well as covering you for floods, fire and other accidental damage, it covers theft, too. If equipment, tools or materials are stolen, and you don’t have the right cover, you’ll be liable to pay the price of what was taken, ensuring the company you’ve hired to do the loft conversion can purchase replacements.
Building sites are also prone to accidents, and so extra precautions must be taken when it comes to taking out conversion insurance. Should contractors, friends, family or other visitors have an accident, you could be held to blame. Protect yourself and others with the correct coverage, as you could face prosecution if you don’t.
If you’re looking for a fully comprehensive loft conversion service, then Kingsmead Conversions will be on hand to help. Our expert team are always available to impart help and advice and offer recommendations to our customers. For more information about converting your loft into a beautiful new space for the whole family to enjoy, get in touch with us today – we’re always happy to help.