25 June 2024

How Conversion Insurance Helps with Unexpected Project Delays

By Self Build Zone
conversion insurance

Here’s how conversion site insurance from a provider like Self-Build Zone can safeguard your project during such unforeseen circumstances.

What is Conversion Insurance?

Conversion insurance is a specialist policy designed specifically for property owners who convert an existing building into a different use or property type, such as converting a barn into a home or an office building into an apartment. Securing this type of insurance is essential because it covers many of the risks associated with the construction and renovation processes that typical home and building insurance might not cover.

What Does Conversion Site Insurance Cover?

Physical Damage Protection: Insurance policies from providers like Self-Build Zone offer extensive coverage against physical damage to the construction works, tools, materials, and equipment present on-site. This can include damage from fire, theft, vandalism, storms, and accidental harm.

Liability Coverage: Public liability coverage is standard in these policies, protecting the project owner from claims related to injuries or damages incurred by third parties on the construction site. This is crucial, especially if any legal actions arise from accidents.

Legal Expenses: Legal coverage is also typically included, providing essential support in case of disputes related to the construction project. This can encompass issues like disagreements with contractors or challenges from neighbouring properties.

Structural Warranty: Providers like Self-Build Zone also offer a 10-year structural warranty that protects against defects in design, materials, or workmanship and secures your investment long-term. Structural defects in building conversions can emerge over time. For this reason, a structural warranty is essential to address costs associated with repairing or resolving any latent defects. Additionally, having such a warranty is often a prerequisite by mortgage providers for approving loans, making it necessary for property sales.

Advantages During Project Delays

Conversion insurance protects you from being out-of-pocket for damages and liabilities that could arise during delays, which can be financially draining and disrupt cash flow.

Having a policy in place gives you peace of mind, knowing you have comprehensive coverage. It also allows you to handle delays without the stress of potential financial losses or lawsuits.

With coverage in place, it’s easier to resume work after a delay, as the insurance helps manage the immediate financial repercussions of damage or theft.

Why Conversion Site Insurance is Essential

Undertaking a construction project without the appropriate insurance can expose you to significant financial risk. For example, standard building insurance policies often do not cover homes under construction or major renovations. Additionally, relying solely on a contractor’s insurance can be risky, as it may not encompass all potential damages or incidents on-site.

Although your builder should have their own insurance, it often doesn’t fully cover the extensive costs of a building conversion. Typically, contractors are covered by public liability insurance, which is only active during their presence on-site. Our conversion insurance offers round-the-clock peace of mind, safeguarding your structure and materials against risks like fire, vandalism, theft, and potential builder negligence.

Securing a tailored conversion site insurance policy covers both the structure and the individuals involved from start to finish, protecting your financial and structural investment against the unforeseen.

Self-Build Zone offers a range of conversion site insurance policies, including site insurance and structural warranty policies for new builds, conversions, renovations and extensions.




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