Home Renovation - cracks

Home Renovating Insurance – Don’t Chance It!

Home Renovation Insurance is becoming more and more popular. Now that home prices are coming down, people are more reluctant to sell so instead of moving they are more inclined to renovate, especially where the home may be over 30 years old, tired and need of a makeover.

As the homeowner, you can get very excited in the redesign of your home but have you considered Insurance to protect your home in the event of a fire for example, what about your trades damaging the neighbours property?

RAC Insurance noted that the cost of rebuilding an average home after a house fire is close to $350 000, while replacing contents lost in a house fire will cost the owner roughly $120 000. These amounts can increase significantly depending on the style of the home and belongings that have been damaged or destroyed.

“And strongly recommend members check that their level of insurance cover accurately reflects the value of their home and contents”

Your home has now become a building site and over a certain value (depends on your insurer) of work e.g $20 000 your Home and contents policy will not cover your home.

What to do Home Renovating?


Check with your Home and Contents insurer whether they will fully cover your home and contents – get it in writing!


Will you become an Owner Builder or use a Registered Builder to renovate?

  1. Owner Builder – You will require Construction & Public Liability Insurance to protect your renovation, this provides cover in the event of fire, theft, storm water, vandalism, flood and Public Liability.

Plus cover to your existing home and contents.

N.B. Not all insurers will cover contents and have exclusions or high excesses limiting your ability to claim.

We recommend that you cover your existing home, renovation and contents to fully protect your most valuable investment. And insure before you start as seeking insurance once started can substantially increase the cost.

2. Registered Builder

Ask the builder has he insurance on the renovation and your EXISTING HOME.

Most Builders insure the Renovation but NOT the existing structure or Contents, leaving the homeowner exposed to a greater risk in the event of damage to the home.

N.B Renovators Home and Contents will protect you, read this

Leave a Reply

Your email address will not be published. Required fields are marked *