Home Renovators Insurance
Cover your property during renovations with Home Renovators Insurance.
Questions? Call us now on
What is Home Renovators Insurance?
Home Renovators Insurance is a tailored policy (or an extension of existing cover) designed to protect your property during renovation projects.
Unlike standard Home and Contents Insurance, which often excludes damage caused by construction work, this insurance steps in to cover risks specific to renovations. Whether you’re hiring a licensed builder or tackling a DIY project, it provides peace of mind by covering your existing home, the renovation work and sometimes even your contents.
Who Needs Home Renovators Insurance?
Not every renovation requires specialised insurance but many do.
You might need Home Renovators Insurance if you’re:
.png){kind=icon}
A Homeowner Undertaking Renovations
Whether you’re refreshing a single room or building an extension, your standard Home Insurance may not cover damages caused by renovation work.
Using a Licensed Builder
Builders typically have their own insurance but it often only covers the areas they’re working on, not your entire home. Home Renovators Insurance can protect the existing structure and contents.
An Owner-Builder
If you’re managing the project yourself, you’re responsible for the site including any damage or injuries. This insurance is critical to cover those risks.
Leaving Your Home Unoccupied
Many policies lapse if your home is vacant for over 60 to 90 days during renovations, so specialised cover is essential if you’re moving out temporarily.
Running a Business
Property developers or businesses renovating properties for resale need this cover to protect their investment from project-specific risks.
What are the Risks It Covers?
Home Renovators Insurance is designed to address risks that standard Home Insurance often doesn’t cover, offering protection for:
01
Accidental Damage: Covers mishaps like a tradie accidentally knocking down a wall or damaging existing structures during construction.
02
Theft and Vandalism: Renovation sites can attract thieves or vandals, especially if doors or windows are removed. This insurance protects against stolen materials or damage to your property.
03
Fire, Storm and Flood: Protects your home and renovation work from natural events, such as fire or storm damage, which remain a risk during construction.
04
Public Liability: Covers legal costs if someone is injured or their property is damaged due to the renovation, such as a neighbour tripping over building materials.
05
Incomplete or Defective Work: If your builder goes bankrupt, disappears or fails to fix defects, some policies cover costs to complete or repair the work.
Why Choose Home Renovators Insurance?
Renovating can be a big investment and the last thing you want is an unexpected cost derailing your plans. Here’s why Home Renovators Insurance is worth considering:
Fills Gaps in Standard Policies
Most Home and Contents Insurance policies exclude damage caused by renovations, especially for projects over $50,000.
Protects Your Investment
A fire or theft during renovations could cost you thousands. This insurance ensures you’re not left footing the bill.
03
Covers DIY and Professional Projects
Whether you’re doing it yourself or hiring a builder, you can find a policy tailored to your needs.
04
Peace of Mind for Businesses
Property developers and tradies can protect their projects, ensuring clients and investors are confident in their work.
Frequently asked questions
Can I get Home Renovators Insurance for a small project like a bathroom update?
Yes, even smaller projects can benefit from Home Renovators Insurance. While minor renovations (e.g., painting or new flooring) may not always require a separate policy, any work involving tradies, heavy tools or temporary openings in your home (e.g., removing walls) can increase risks. Check with your insurer to see if your standard policy needs an extension or a standalone policy.
What happens if my renovation goes over budget or takes longer than planned?
If your renovation costs or timeline exceed initial estimates, notify your insurer immediately. Home Renovators Insurance policies are based on the project’s scope and value, so changes may affect your premium or coverage. For example, if your $100,000 extension balloons to $150,000, your insurer may need to adjust the sum insured to avoid underinsurance.
Does Home Renovators Insurance cover my belongings during renovations?
Some policies include coverage for contents, such as furniture or appliances, if they’re damaged, stolen or affected by renovation work. However, coverage varies and you may need to store valuable items off-site or add specific Contents Insurance. Always confirm with your insurer what’s included and consider temporary storage for high-value items.
Can Home Renovators Insurance cover me if I’m renting out my property during renovations?
Yes, but you’ll need to inform your insurer as renovating a rental property may require additional coverage, especially if tenants remain on-site. Home Renovators Insurance can cover the property and renovation work. However, you may also need Landlord Insurance to protect against tenant-related risks like loss of rent or damage to fixtures.