Barn Conversion Insurance

Posted by BuildSafe1 on 3rd December 2020 -

Barn Conversion Warranties are a 10-year Structural Warranty that have been designed specifically for use on barn conversion project.

Recent developments in the insurance market mean that many Structural Warranty providers will no longer offer cover on Barn Conversion projects, and sometimes an alternative product might be more suitable. It is important to engage with an expert consultant such as Buildsafe when engaging in Barn Conversion projects to make sure that you project is insured correctly.

Barn Conversion Insurance: Alternatives to a Warranty when Converting a Barn

If you are developing a barn and are going to sell it, rent it or refinance it, a Professional Consultants Certificate could be a wise solution. Most mortgage lenders will lend where the property is covered by a Council of Mortgage Lenders (CML) Professional Consultants Certificate (PCC). These certificates are limited by the professional indemnity cover of the consultants concerned. For instance, when we provide these certificates our cover is up to £3m which will cover most build costs for barns. However, for the majority of consultant’s (such as architects offering an Architects Certificate) their cover is only £1m.

In order to ensure the best price for a structural warranty (equivalent to an NHBC Warranty) or PCC on a barn conversion, make sure that you take the policy or certificate out before you start any work on the conversion, and make sure you have, at the very least, the information listed below:

A Detailed Site Plan – showing the site as a whole and its location and levels if it is on slopes

Photographic Evidence – colour photos, both external and internal, showing all sides of the building, outbuilding, garages and any unusual features

Structural Report – A detailed report (not just a condition survey) from a suitably qualified Professional (Building Surveyor / Structural Engineer) detailing the condition of the structure and its suitability for conversion

Detailed Plans – A full set of plans and specification of works to be undertaken

Waterproof Envelope – (existing materials and those proposed to be used) as well as details of proposed Tanking, Damp Proof Membrane and Damp Proof Course

Ground Investigation Report including soil strength tests and contamination tests

Purchasing insurance from structural warranty providers, or a PCC from BuildSafe, can not only act as a great sales tool for your development by offering prospective buyers peace of mind, but will also enable mortgages to be raised against the property. If you would like more information or a chat about your requirements, please give us a call on 0203 701 0420