You are a key part of your self build. Making some kind of plan that will make sure the build can be completed in the unlikely event that you pass away or become incapacitated would be very sensible. Life and serious injury insurance can be one way to build in that contingency. However, there may be specific insurance requirements if you have a lender. For example, most lenders will insist on build-out insurance to enable them to finish the build in case you don’t or can’t.
You should also look ahead. Once your build is finished, your self build policy won’t automatically cover your property and the contents as normal home insurance would. You should arrange to automatically transition your policy to a household policy on completion or find a new one.
Thinking about everything that could go wrong might not be nearly as fun as dreaming about your new home. However, it is incredibly important that you protect those dreams by taking these simple steps. When it comes to self build insurance, the old adage that you should plan for the worst and hope for the best is a good one to keep in mind.
At Potton, we are here with you through every stage of your self build. With have a team of experts ready to guide you through your self build journey. Contact us
today, to chat about your requirements and how we can help support you with your self build project.