As a Master Builder you’ll hold many insurance policies, including Public Liability, Contract Works and New Homes. But do your clients know this?
In this guide, we’ve made an easy insurance checklist to ensure everyone is protected. Tick all of these boxes and your clients will understand what you’re covered for as well as the insurance policies they need to purchase themselves.
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Show evidence of your insurance policies
You need to let your clients know that you have the right insurance cover in place. This includes Public Liability, Employers’ Liability & Insurance Backed Guarantees (we’ll talk more about this one later).
Before you start any work:
- Make sure you have your insurance certificates and policy documents to show to the homeowner so that they can see exactly what you’re covered for.
- Make sure to check they’re in date, as neither parties would be able to claim via an expired insurance policy should they need to.
It’s better to get your insurance policy renewed before sharing this with the homeowner, as they may request it be updated before work can start, which may then delay the project.
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Explain why it’s important
Insurance policies are put in place to protect you, your business and your client. The construction industry is an inherently risky business, so it’s even more important to take out a carefully-picked insurance policy.
Make sure to chat this through with the homeowner, as this might not be on their radar at all. This will give you and your client invaluable peace of mind, reassurance and confidence throughout the build and beyond.
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Detail your insurance limitations and purchase project specific covers
An Insurance Backed Guarantee (IBG) is a specialist insurance product for every kind of project; from porches and internal alterations through to extensions and loft conversions.
Our FMB Building Work Guarantee is an IBG that's designed for both the builder and homeowner. For example, we can provide warranties for 2, 6 and 10 years, as well as insurance to cover deposits paid and the construction phase of your project.
*FMB Building Work Guarantee is administered by FMB Insurance, which is authorised and regulated by the Financial Conduct Authority.
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Remind them to update their home insurance
For their policy to remain valid, it’s important to let your client know that they’ll need to inform their home insurance company that they’re having works done. The insurance company may need to make changes to their policy or add certain restrictions whilst the renovation is taking place.
Building confidence with quality cover
We can manage all of your business protection under one roof, delivering the right policies for the right situations. Our insurance and warranty products include: Insurance Backed Guarantees, New Homes 10 Year Structural Warranty, Public and Employers’ Liability Insurance and more.
Tel: 01353 652760
Email: [email protected]