Build Safety Site

Insurance is very important for build safety site during any project. You will have to protect you property against damage and theft, but more importantly you will have to protect your workers and the public against personal injury. Your build could be disrupted for a number of reasons including disputes with your contractors, accident, injury, arson or theft. Hence building site insurance is of fundamental importance when investing your money into property and is so designed that it can be taken out when you purchase the building plot.

You may even approach a consultant. If the property is habitable and you take up residence, despite further work being undertaken, cover will no longer be afforded under your Self-Builder policy. You should always check with any contractor whether they are holding their own insurance and what it covers them for. You might find something excluded, for example the theft of your own tools and equipment from the site.

There aren’t generally any additional steps that need to be taken under most Site Insurance policies. However, it is important that you follow Health, Safety and Welfare Regulations.

You will need to insure the project for its Professional Reinstatement Cost (i.e.: the cost to rebuild the property at completion with allowance for site clearance and professional fees). Basically if a serious loss occurs 2 weeks prior to completion, you will probably not have the time or inclination to self-build it again. This way you will have enough funds to contract a professional to reinstate it. If there is a mortgage involved, the lender will stipulate the amount of cover required.