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Building work - be warned!!

A lot of home insurance policies now include a requirement to let them know if you are altering/extending your home and they don’t like it if you don’t.  Indeed, your policy might be invalidated if you embark on some project and need to claim...So why the fuss?

Well, experience shows there are more claims for fire; theft; escape of water; weather related incidents and accidental damage, if you have the builders in.  Usually, insurers ask to have prior notice of any work exceeding £25,000 and sight of the contract in place.  Why - what’s the deal with contracts, more specifically these “JCT’s...”?

A Joint Contracts Tribunal is the contract most builders will use in their relationship with you, offering standard documentation and guidance notes on building works.  The reason most insurers want to see a copy of this is that it is possible that the contract might make the contractor, joint policyholder of the home insurance for the duration of the works...So?  Meaning that if there’s a claim and the contractor is at fault, the insurer can’t then pursue the contractor for the cost of the damage...starts to make sense, no?      

If you are thinking of having work done, contact us for advice on how to proceed with your insurers – don’t leave it until it’s too late!

Posted On 11 July 2011 | 0 Comments

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