As well as covering the site itself, Building Site Insurance covers buildings while they are under construction, protecting against any loss caused by fire, theft, flood, accidental damage and vandalism, as well as any other eventualities that could end up costing you time and money. Building Site Insurance is every bit as essential to the safety and success of any new development as the materials and tools that are used in the actual physical construction, and it should never be overlooked in an effort to save a little money.
What is building site insurance?
Building Site Insurance is a particular type of insurance policy created for self-build, extension, renovation or conversion projects. In the case of self build cover, Building Site Insurance should be taken out at the moment that contracts on the building or plot of land are exchanged.
The cover is in place during the planning and construction phases and remains in place until the project is fully completed. The right Building Site Insurance policy will have been designed specifically for you and your individual circumstances. It will provide cover against all the specific types of loss and damage that are inherent in the particular kind of project you’re involved with. It will take into consideration how much responsibility you personally have, as well as the unique nature of the specific project you’re working on.
What does building insurance cover?
Building Site Insurance provides two different kinds of cover, both of which are essential for anyone working on any kind of construction project.
First of all, there is the protection offered against physical damage. This protects you and your business against actual physical loss or damage sustained during the project, including materials, the plant, vehicles, tools, machines and equipment. Loss caused by fire, theft, vandalism, weather conditions and accidental damage also fall into this category of cover.
Secondly, there is liability cover. This protects you against your incurred liability should you inadvertently cause damage to property belonging to someone else, or personal injury to another person at any point during the course of your building project. Damage caused to surrounding property, for example, is clearly your responsibility, but you may also be responsible for the health and safety provisions on the building site, so you need to be covered for any potential claims brought by worker injury, however minor.
You should also consider taking out a warranty that will cover your work in the future.
Not being covered for any of these eventualities can end up being a very costly oversight. Not only can damages run into tens of thousands of pounds, but the damage caused to your reputation can be irreparable.
How can I rely on Thompson & Co to find the right insurance for me?
At Thompson & Co, we provide a wholly personalised approach to finding the policy that’s right for you and your unique building project. We have many years of experience providing this specific kind of insurance and we make absolutely sure that the cover we arrange for you is customised for your precise circumstances. For more information on the specific services we offer and the consistently high level of professionalism we provide, have a look at our Testimonials and About Us page. Or maybe just give us a call right now on 0121 796 0123 and together with one of our expert brokers, you can arrange a Building Site Insurance quote. With no obligation.