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What is renovator’s home and contents insurance?

April 1, 2016

Over the past 10 years there’s been a marked increase in the number of Australians choosing to renovate. But did you know that in some cases, a property may not be covered by home and contents insurance, while it is being renovated or extended?

This is where renovator’s home and contents insurance comes into the picture. Here’s what you need to know about it.

What is renovator’s home and contents insurance?

Renovator’s home and contents insurance (also known as Construction Insurance) is a relatively new insurance product designed to protect home renovators who engage a registered builder to extend or renovate their property.

How does it work?

There are 3 core parts to most renovator’s home and contents insurance policies. These include:

1. Builders Construction and Liability Insurance – offers basic cover for your renovation or extension. This includes fire, theft, storm, water, malicious damage and also Public Liability cover.

2. Renovations that cost over a specific amount (for example $20,000 to $50,000) – applies to existing homes, which are now techinically considered to be building sites and beyond the scope of normal home and contents insurance cover.This is because a building site is at greater risk of dangers such as theft. Renovator’s home and contents insurance will cover the home until it is no longer deemed to be a building site

3. Contents Cover – this cover is optional, and can only be taken out if the renovation or extension is covered by renovator’s home and contents insurance. Contents Cover is for the full duration of the policy, for the full sum insured. The sum must be for the full replacement value of the contents covered.

To qualify for Contents Cover, the property must have: 

  • Secure deadbolts on all external doors; and
  • Secure window locks on all windows; or
  • Window security screens on all windows; or
  • Security mesh or bars on all windows.

In all of the cases listed above, locks must be properly locked and keys must be removed from the locking devices.

To be covered by Contents Cover, the property must also be:

  • Occupied by the home owner while the contract works are being performed; and
  • Not left unoccupied for any more than 72 consecutive hours prior to any theft or ‘event’ that calls the policy into action.

Need to know more?

The information we have provided in this blog is not exhaustive. So if you would like to know more about Renovator’s Home and Contents Insurance, please contact our insurance brokers. We can walk you through all of the details of your cover, and provide a competitive quote.

Contact us to get started.

Photos taken on several residential construction sites which use fall arrest systems in Phoenix, AZ over a week in August 2012



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