Need renovation insurance advice for your upcoming project? Contact us to be put in touch with a specialist broker.
As increasing numbers of end clients commit to large-scale renovation projects, we’ve seen a big increase in demand for Renovation Master and Renovation Asset, key policies within our comprehensive suite of specialist insurance products.
From refurbishment and repair, to complete rebuild, each of these supersize projects has benefitted from our Underwriting team’s detailed knowledge and experience of the intricate insurance cover these projects demand.
We are delighted to share details of just some of the cover we have recently arranged for large scale projects across the UK:
West London mansion-style house | Complete repair and refurbishment | £10M existing structure, £35M renovation | Renovation Master
This sizeable West London property now has Renovation Master cover in place for a project that includes basement works and the construction of a swimming pool. Our Underwriters undertook a detailed consultation to determine terms and exclusions for cover.
Large London property and interlinked mews house | Significant works | £29.1M existing structure, £15M works| Renovation Master
Our Underwriters prepared a tailored underwriting package for this high-value property in West London, due to undergo significant works. Our Renovation Master product secured a comprehensive policy package, designed to cover all of the existing property, as well as all new works and materials, on an all-risks basis, from start to finish.
Colossal rebuild in Henley on Thames | Demolish and rebuild | £49M project budget | Renovation Asset
Our Underwriters sometimes undertake consultation with the end client to determine further potential risks. For this demolish and rebuild project in Henley, we identified a potential liability exposure. Peace of mind was then guaranteed with our recommendation of including ‘Project Public Liability’ for wider protection than the standard ‘Property Owners Liability.’ 100% of the new build is now insured with our Renovation Asset product, which also includes the planned additional buildings and detailed landscaping.
Countryside Grand Design | Extensive renovation, extension and swimming pool relocation | £32M total sum insurance, £27.6M works| Renovation Master
With plans for a complete and very high specification internal property refurbishment, along with an extension to relocate the swimming pool, the new owner of this countryside property now has comprehensive cover from our Renovation Master product.
Continuation of large South West London project | Basement excavation and full internal redevelopment | £41.1M project, £16.7M Grade 1 existing structure | Renovation Master
We usually get involved in projects before they start, but in this case we picked up a project mid-term when the existing insurer was unable to continue providing cover, due to the scheme being wound down. With plans to create a high-end residential dwelling, works to date had included a basement excavation and full internal redevelopment. Our Underwriters negotiated a new 30-month policy period under Renovation Master, although it was necessary to charge a premium to reflect the project as if we’d seen it from the start.
Significant works at neighbouring Chelsea properties | Basement excavation, full refurbishment, demolish and rebuild | £15.1M works | Renovation Ultra
This complex project involved three separate properties and a basement excavation which would link through to a rebuild, following the demolition of an existing annex. Our Renovation Ultra product, for homeowners undertaking bespoke projects worth in excess of £5 million and planned with the very highest levels of design and construction, secured peace of mind for the client.
These projects represent just a small sample of the types of cover we are asked to provide; working closely with Brokers to supporting high-net-worth clients undertake large-scale renovation works. If our specialist Underwriters can help advise on your next enquiry, do get in touch.
Want to know more about these specialist insurance policies for large-scale renovation projects?
Renovation Master is a contracts work solution for all UK homeowners undertaking building works and extensions with rebuilds where existing structures are valued above £450,000. There are no restrictions on minimum or maximum project duration and contract values from £250,000 to £150 million. Take look at the whole product breakdown here
Renovation Asset is a policy designed to support all UK commercial property owners and developers who renovate, refurbish or undertake new builds where the existing structure is valued over £450,000 and the contract works are valued over £250,000. There’s no restrictions on minimum or maximum project duration and contract values from £250,000 to £150 million. Take look at the whole product breakdown here.