Self-build insurance that relates to the construction of the building is something that anyone working on their own self-build project needs, but there are some common myths and misconceptions that could mean you run the risk of not having the right cover in place.

We look at the two biggest myths and tell you what you really need to know to ensure you have the self-build insurance cover that you need.

Myth 1: I don’t need self-build insurance if my builder has their own insurance

It’s essential that any builders or tradespeople contracted to work on your self-build project have their own insurance policies in place, but their cover will only relate to their specific aspects of the build and not the project as a whole. This is why it’s important that you have a self-build construction insurance policy that protects you from the risk of any faults or defects in the property that a standard inspection won’t pick up.

Myth 2: Self-build insurance isn’t needed once the construction is coming to an end

While some of the risks associated with a building project do reduce as construction nears completion, things can sometimes still go wrong and it’s possible that there may be problems and issues that only come to light after the build is essentially finished. If there are latent defects or defaults in the property that a pre-completion inspection doesn’t pick up, you could be liable for a range of different costs that may include:

• Remedial work
• Professional fees
• Demolition
• Paying for alternative accommodation
• Land contamination

Self-build construction insurance covers all of these potential issues, amongst others, to help give you peace of mind and mitigate the potential risks. It’s also worth noting that all major lenders will require a suitable warranty on self-build projects before agreeing to lend. Our self-build insurance cover is flexible, with competitive rates and we offer fast cover that can help you take your self-build project forward with confidence.