# Forum More Stuff Owner Builders Forum  Owner builder construction insurance expires soon

## Prolom

Hi to all, 
Im wondering if any one else has any suggestions 
- our owner builder construction insurance is soon to expire ie: due to various delays the build has not been finished withinn the 2 yr time frame? My current insurer refuses to re insure, or start a new policy as they have a 24 mnth max. time limit. 
Does anyone know of insurers that would insure for an additional 6 mnths? 
I have spoken to a few brokers, they all say no.

----------


## Bigboboz

What is covered by the owner builder construction insurance? ie how does it help you?

----------


## Arron

This probably won’t help but … 
We also ran up against our insurers two year limit. They cut us off and wouldn’t reconsider. 
 Apparently the limit is in place because the underwriters have figured out that most of the large claims come in the latter part of the build, so they only want to insure for the bit likely to lead to small claims. 
We had already moved into the downstairs portion by that time (2 stage build) but were still doing the (much larger) top floor. 
I rang around till I found one company who said ‘sure, we’ll just put you down as regular home insurance, and the top floor work will just be noted as a live-in renovation’. 
It worked out to be about $1000 cheaper then owner-builder insurance. All the components of OB insurance that I actually wanted were there so I went ahead. The manner in which the option was offered indicated to me they write these policies quite often. 
Another thought - can you get the important parts of the OB insurance individually - public liability, voluntary worker cover, insurance for the structure, workers comp etc.

----------


## manofaus

this was not covered because it was not to lock up or inspected. 
2 min storm=
7 days labour 2 blokes +me, 3 new trusses, 2 new rafters, 2 new posts .... 1000s of nails, top and bottom plate replacements still ongoing.
#OBlife
#blamenoone

----------


## Uncle Bob

Damn Manofaus, that's no good.

----------


## manofaus

Yeah sucks, but moving on.
What we think happened is wind caught the Ridge beam (360 kgs) and rafters and pushed it to one end. It wasn't braced diagonally and only walls and posts were braced. It was tied in to a truncated truss and in turn every other truss. Roofing was a house of cards after that. Pm for details if nosy.

----------


## Prolom

It helps you as your usual insurer will not insure you if your site is deemed a construction site...so owner builder c9nsyruction insurance covers.you for flood damage, storm and water damage, covers your existing structure if there is any, theft and vandalism and public liability.

----------


## Prolom

Hey Arron, thats great that yours worked out well and at a good price. I just got a quote for 6mnths, thats about triple the price of what my yearly premium was for owner builder construction insurance. The excess is also extremely high. So i am now able to get the insurance but at a very hefty premium....

----------


## Prolom

Hey Manofaus, sorry to hear what happened on your site. I thought this would be covered, and not just from lock up stage. Hopefully, going forward its smooth sailing Good luck with everything. Try and finish within2 yr mark, otherwise the insurance ( if you can get it) is very expensive.

----------

