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Daily Insurance Industry News
Saturday 21st of July 2018
October 4, 2012

Home & Legacy launch HNW building works policy

by Gill Montia

Story link: Home & Legacy launch HNW building works policy

Home & Legacy launch HNW building works policy

Home & Legacy has partnered with Allianz Engineering to launch a building works product for the high net worth insurance market.

Building Works Extension is designed to give protection to home insurance policyholders against the risk of damage when refurbishments or extensions are being carried out.

As well as covering all risks for the existing structure under the home insurance policy, the policy provides cover including damage to contract works, breakdown cover of new equipment which forms part of the contract works, offsite storage, plans and professional fees.

Home & Legacy product underwriting manager, Adrian Ewington, comments: “When discussing renovation works with customers, we found that a number of them were faced with difficulty when trying to arrange adequate cover for their properties whilst work was being carried out.”

He adds: “Many of our customers did not realise that building works needed to be declared and properly insured to ensure that there is cover in place in the event of a loss.”

 

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