Renovation

Simple renovation insurance solutions for alteration works

Every development project is unique. Off-the-shelf products and standard wordings often cannot provide the protection that your clients need.

At DUAL Oliva, we specialise in building comprehensive renovation solutions from the ground up. We work hard to supply an adaptable policy wording, with a nimble service to match.

No matter how complex your client’s needs, our expert underwriters will strive to help you.

What can our renovation insurance cover?

DUAL Oliva's policies can be tailored to meet the precise needs of your client and the requirements of their JCT building contract,. We build custom-made packages to cover your client’s contract works, existing structure, contents, and liability exposures.

Our coverages include:

Contract works

Our contract works insurance is provided on an “All Risks” basis and protects the new structures, materials and fittings forming the works being carried out on your client’s property.

Existing Structure

Standard buildings insurance often doesn’t provide adequate cover during renovations, leaving your client’s property vulnerable. Our existing structure insurance is designed to provide comprehensive cover and give your client the peace of mind that their property is adequately insured during their renovation project.

Contents

Renovation projects often bring increased risks to the home contents, whether the client is living on site, or if the property becomes vacant during the works. Our contents insurance protects your client’s belongings against a wide range of perils, including:

• Fire
• Storm
• Flood
• Water damage
• Theft
• Malicious Damage

Public liability

On an active building site, with large numbers of contractors and subcontractors passing through, accidents can and do happen. Third-party claims made against your client are a real possibility.

With the option of public liability insurance up to £5m, our renovation policy protects your clients from third-party claims resulting from injury and property damage.

Non-negligent liability / JCT 6.5.1

Damage to neighbouring properties is always a risk when carrying out major alterations and groundworks. When costly issues arise that are not caused by contractor negligence, your client could be left with little recourse.

We can cover non-negligent losses resulting from contract works up to £5m, ensuring your client is protected for damage to third party properties against specific perils, including:

• collapse
• subsidence
• heave
• vibration
• weakening or removal of support
• lowering of ground water

Plant

The machinery required for renovation works often carries a heavy price tag. And a loss can put work on hold, imposing further costs on your client.

Our plant insurance covers heavy equipment, helping your client to avoid expensive costs and charges if their equipment is damaged, lost, or stolen. We can arrange cover for both owned and hired-in machinery and equipment.

Advance loss of rent

Delays caused by an insured event such as fire or storm damage can result in your client’s project taking longer than expected to complete. Our advance loss of rent insurance would compensate your client for the rental income they would have earned had the project been completed on time.

Who we work with

We help property owners and real estate developers undertake renovations, extensions, and repairs on properties including:

For clients undertaking lower-value projects, our Renovation Package provides specialist protection and a low fixed-rate premium. Alternatively, we offer a fully bespoke service for high-limit projects though our Renovation Prestige solution.

Here’s how they compare.

Why choose DUAL Oliva for renovation insurance?

Seamless protection

Insurance for building works can get complicated, with carious coverages supplied by different insurers. That's why we strive to make it as simple as possible for your clients.

Our solution covers the contract works and existing structure under a single policy, replacing the client’s building insurance throughout the project. Keeping protection gaps to a minimum, we are always close at hand should your client need to make a claim.

Made to measure coverage

Our underwriters are empowered to use their specialist skills to find you solutions,

With over 10 years’ experience serving construction clients, we offer comprehensive coverage that can be precisely tailored to your client’s needs.

Streamlined underwriting

Our specialist underwriters have the expertise and dexterity to help provide a hassle-free underwriting process for our broker-partners.

Resources:

• Renovation product overview