Browse Forums Renovation + Home Improvement 1 Sep 04, 2012 10:08 am I've just been on the phone to RACV and am dissapointed that they won't cover our home and contents during the renovation. Our insurance would be null and void as soon as the roof and wall cladding came off. Also because the renovation would be more than 50k they won't cover it either so even if we were able to do the new roof and get the cladding up in a day (yeah I'm dreaming lol) they wouldn't cover it anyway because of the cost of the project which will probably cost more than that. I was more than willing to pay extra for it but they aren't interested so if anyone can help me with the names of insurance places that will cover us I'd be very grateful. I have two little kiddies that whinge and hang off me as soon as I'm on the phone so I'd prefer not to have to make 10 phone calls if I can avoid it Thanks! A blog about our renovation http://notmynightmare.blogspot.com.au/ Re: Home and contents insurance while renovating. Help pleas 2Sep 04, 2012 2:54 pm I think your problem is: If your work is in excess of $50K then you are supposed to register as a home owner builder, which then means you need insurance cover for that, plus workers comp and public liability. Otherwise, if you are paying a builder to do the work, then his insurance should cover you. My house insurance covers me if I'm doing less than $50K's worth of renovations....... Re: Home and contents insurance while renovating. Help pleas 3Sep 04, 2012 11:06 pm You are right, your existing property building and contents are not covered. We only found this out days before we started and madly rushed to find a solution. I did note varying limits before insurance becomes null - 50k to 150k, between companies. They also want to assess level of risk, so takes a day or more for review. We disclosed and negotiated with our insurance co. they assessed as low risk as the roof isn't coming off, but added several conditions to our policy. If this failed then our next option was to extend the builders construction insurance to include existing building or get our own construction just until lock up for the existing building, then reapply for std. Re: Home and contents insurance while renovating. Help pleas 4Sep 07, 2012 7:41 am Good news is that I remembered that our financial planner is also an insurance broker so I called him and he is on the case for us. He is sorting our public liability and construction and house and contents insurance for us and will have something for us in the next few days. I'll share who it's through if anyone wants to know. Quote: If your work is in excess of $50K then you are supposed to register as a home owner builder, which then means you need insurance cover for that, plus workers comp and public liability. Yes we are already registered as an owner builder and our broker is sorting out the building related insurances for the extension. It was the exiting home and contents insurance that is the concern here Quote: We disclosed and negotiated with our insurance co. they assessed as low risk as the roof isn't coming off, but added several conditions to our policy You're lucky that they were willing to negotiate! RACV wouldn't even discuss it. Said the policy would be null and void. Even when I said I understand it's not covered on the current policy and would be more than willing to pay an extra premium to be covered they refused. It's not as if we were going to pull off the cladding and roof, then leave it like that to go on safari for 6 months with the house open to the elements and able be looted by all and sundry A blog about our renovation http://notmynightmare.blogspot.com.au/ What you are looking at is fibrous plaster, true gypsum, it is cast on horizontal beds with fibers included to give strength. I has no Asbestos in it. Houses before 1985… 2 7113 Hello everyone Please advice me how can I install mesh security window or we cab say mesh flyscreen inside while the pvc plantation shutters are already installed? Is… 0 11591 Hi Suku18 In NSW the statutory required insurances are: 1. HBCF ( Home Building Compensation Fund) - This is if the builder dies or goes broke. But this only covers 20%… 1 2666 |