Joint Names & JCT Minor Works Insurance, for homes undergoing major/substantial renovation, refurbishment or extension.
You may have been advised by your architect, builder, project manager or solicitor that before getting your building project started you will need to agree terms with your chosen Builder, by way of drawing up a Contract. The most popular form of Contract for this purpose is known as JCT (Minor Works) or Joint Contracts Tribunal. There are other forms of JCT Contract too and you may well be referred to the terms, JCT clauses 5.4 A, B or C.
Part of the JCT contract will set out rules regarding the insurance of your home, and the ongoing works. It may well mean that as the homeowner you will be required to obtain specific insurance to cover your property and the building works for the period of the project. This insurance will normally be placed in Joint Names between you as the homeowner and the Builder.
The chances are that your present home insurers will not be able to help you since the vast majority exclude cover for any structural alterations to your home and also any damage caused by the builder. So how do you go about getting such insurance cover?
We at Culpeck Insurance Services Ltd are able to offer you an insurance policy designed specifically for this type of situation. The policy will cover the existing structure of your home, the building works being carried out, including all materials, and your liability as owner of the property. The policy will last for the duration of the building project and can be extended should the works fall behind schedule, as can often happen.
For more information, or to obtain a quotation, please call 01733 208278. You can also email firstname.lastname@example.org
Protect both your property and your investment in your building works by getting the right insurance cover.