My builder plus insurance

[be96erj]

Hi,

 

has anyone here ever purchased this insurance from my builder? https://mybuilder-plus.com/

 

I had a really bad experience with a previous builder and so what to protect myself properly this time. 

 

Does anyone know what this type of insurance is called and any other companies that might sell it, as 7.5% seems steep!

 

I particually like the idea that I am covered if the builder walks off, or does a poor job, or walks off with my deposit! 

 

Any thoughts would be gratefully received!

 

 

[honeybee13]

It seems to be called Contract Works insurance and Hiscox' draft policy on the site you linked to calls it Contracted Works. There seem to be a few companies offering it but you'll need to read around on Google to find policies that are for individuals rather than businesses or artisans.

 

HB

[unclebulgaria67]

Fairly niche product very few will have heard about and with a premium cost of 7.5% of the contract building works contract value, it would put many people off buying. 

 

Underwritten by a well respected Insurance company Hiscox.  

 

Is this the only policy of this type available ? Before buying, contact a Lloyd's Broker and check whether other policies are available.