Hi,
I'm about to settle on a property that we've purchased for a cosmetic renovation, and then to sell (from one end to the other, no longer than 6 months). Are there any suggestions for the type of insurance that I should be looking at, and any particular insurers?
We won't be living there during the renovations, but there will be a few mod-cons taken across (TV, bed, couch and computer).
Thanks,
Amanda.Amanda,
I suggest you ring a few insurance companies or insurance brokers and state that you need building and contents insurance with no one living full time in the house due to it being renovated.
A lot of insurers won't insure if no one is living in the house.
I have used land lords insurance to cover this but it is the building that is insured rather than contents.
Not sure on the contents as well being insured without someone living in the premises.
One of those insurance companies will know who and what does this sort of scenario for insurance.
It could be a specialized insurance policy and that is why I am suggesting a referral from an insurance company.You might consider needing public liabilty insurance in case a worker gets injured on the reno job.
You could try IMAR as a starting point as they do business insurance and might have a better grip on these scenarios
http://www.imar.com.au/#/contactI'd be recommending Contractors all risk insurance (covers public liability, tools, materials on site etc). PL insurance will not cover personal injury to workers – so you will need to ensure that anyone working on the site is a P/L company with workers compensation insurance or at the bearest minimum personal injury/loss of income.
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