At any time you make minor modifications to your house, whether or not it is adding an extra room to your ground floor, or building a separate living space in the back yard, you will need to take out builders insurance so as to protect both yourself and the builders who are doing work on your site.
The builders themselves might have a form of contractor insurance which may cover you in the event of a crisis, but in order to be completely sure that you are entirely secured against any future problems, you must take out your own builders warranty insurance.
Arranging for a builder to come in and work on your home is demanding enough, but not having builders insurance can leave you exposed to greater inspection from government officials, and health and safety inspectors. You must be aware that you cannot do any kind of construction work while not having the required insurance, as you are placing both yourself and the builders at risk. In fact, if you do not have this paperwork to prove that insurance was taken out, you may come across difficulties when you try to sell your home. It therefore makes a lot more sense for you to put your insurance policy in writing at the earliest opportunity.
For just a moderately small sum of money, you can insure yourself in the event that something happens to your builder that stops the work from taking place. This could be anything from the tragic natural death of the builder to them becoming insolvent and not having the means to finish the work. In both of these instances, with a right builders insurance policy you can get the funds which you had already spent on the project back, allowing you to begin again. This can mean the difference between being in a position to finish your construction, and being left with a half-done room conversion.
Builders insurance can also help in situations where the builder has left, leaving you with no funds to employ someone else. In few conditions, the disappearance can be easily solved, and the builder returned to his trade in your home. In several other cases, the builder has disappeared in suspicious circumstances, leaving debts and unfinished work behind him. In this situation, a builders insurance policy can offer you with the safety net, and provide you the funds you need to carry on. This is a lot easier than having to pursue the builder through the courts, a matter which can take years, and leave you with no answer even at the end.
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