About House Building Insurance

Archive for the ‘Q & A’ Category

I hear a lot of home builders are going under, yet I do see some homes being built in my area. I am considering buying a home, but I am wary.

I’m just about to move into a rented flat with my girlfriend, and we’re trying to get our insurance sorted, but one thing is worrying me. If we have tenants contents insurance, and we accidentally cause structural/building damage (eg. by causing a flood or a fire), will the landlord’s insurance cover the repairs, or will we be expected to (as we caused it).
Most contents insurances we’ve looked at only cover you for between 2k and 12k of damages to the landlord’s fixtures and fittings, and say nothing about cover for structural damages. it also seems that we can’t get building insurance, as we don’t own the property.
so if the landlord’s insurance expects us, the tenants, to pay for any building damages we may cause, and our contents/tenants insurance doesn’t cover that, would we be personally liable for tens or hundereds of thousands of pounds of costs?
thanks

Call your agent, they will go thru a program that will calculate the approximate replacement cost of your home. It only takes a few minutes if you have all the info on your house. Make sure you know the sq footage of the main floor and also the sq footage of the finished basement, sq footage of any porches,decks, additions to the house, breezeways
Your agent should be happy to help you with this.

Hi! My partner and I are hoping to purchase a flat in the coming weeks but are having problems finding out about building insurance cover. The flat is in a block of two each with their own entrance – there is no communal charge for upkeep or building insurance.
I have rang a number of building insurance companies, most of which do not know what such leases are! The current company providing building insurance seem unaware of the type of dwelling that they are providing cover for and have stated that they would not provide insurance – even though they currently are doing for the current occupants!
It seems that if one flat is not insured then the insurance of the other maybe come void – which is the nub of the issue. If we purchase the flat and obtain insurance but the occpants in the flat below do not, cannot, forget to renew for a week, where exactly do we stand?
Google has thus far provided no answers!
many thanks in advance, Sean.

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The landlord or the tenant?

Does it differ between county and city municipalities? If it does have to meet and pass a building inspection, do they typically go by the International Building Code?

What process must one follow to go about having a custom home built? And in your opinion do you believe having a custom home built will create more headaches (and be more expensive) than buying a home directly from a builder ?

We’re trying to find out how important an ad in yellow pages is for an emergency flood company. Or, do people just called their insurance and use whoever they recommend?

I’ve bought small 1 bed flat in eltham.Our brooket told as that we Must have mortgage life insurance as this is obligatory,so we sigh for it.Then RBS called us to say thay we need to have builiding insurance.We called our brooker but he said is not true as our flat is a leashold and building insurance is included in service charge we are paying.What is correct?What is obligatory?My finacial advisor in Barclays said mortgage insurance is NOT OBLIGATORY.Are we being mislead by our brooker?( we are not naitive british)?

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We are first time home buyers and don’t know much about the new home building process but would like some great but concise advice about the do’s and don’t’s of new home building. Thanks in advance for any help!