Insuring the build


Postby neil mcdonald » Thu Feb 14, 2008 9:51 am

Hi there - we've got a barn, we got planning permission, got the building control stuff sorted now we've got a builder but how do we go about insuring the barn during construction? Are there any recommended firms or does anyone have any stories to share?
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Postby davidfordham » Sun Feb 17, 2008 6:43 pm

Eventually got our insurance through Self Builder. There are several other companies who will also insure barn conversions - suggest you look at one of the self build magazines. A word of warning though - do not expect to get full coverage. They all insure you for the cost of new work (ie what you expect to be shelling out to make you barn into a home) and for the cost of re-building the existing structure should it fall down or catch fire. What they forget is that local authorities usually impose a planning condition which effectively revokes the planning permission in the event of the existing structure being destroyed. In this case you're left with an almost worthless plot of land which you'd never be allowed to build on. The insurance companies do not seem to understand this (or don't want to - I had many a heated discussion with them but to no avail) and will not cover your initial outlay (barn plus cost of getting planning permission). We bought our barn complete with planning permission and couldn't get insurance cover which will recoup our initial outlay. We just have to hope we don't have a disaster or that we can persuade the local authority that it is possible to rebuild should the worst happen.
If you haven't got such a planning condition then you're very lucky; if you have, good luck with getting fully insured - I'd be very interested in knowing if you succeed.
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