Building or even renovating your own home can be a great experience. You get the chance to build your dream home making it exactly how you want it, but it can also be a huge financial undertaking. That’s why building site insurance is vital.

Building site insurance is essential for anyone who’s self-building or undertaking a renovation project. This is because as soon as you buy that plot of land or a run-down house you’re personally liable for any injuries, damage or financial implications that could occur. If you don’t want to have to pay for these things out of your own pocket it’s essential that appropriate insurance is put in place, as you don’t want to see all that hard work going down the drain.

Building site insurance covers you against anything unthinkable that could happen. It protects you and your family from any possible injuries that could occur on-site (if you opt for this level of cover), and it protects the structure and the house as a whole from any vandalism, fire, theft or anything else untoward. If your project suffered from any of these things the financial consequences could be disastrous, and if you don’t have insurance in place you may not be able to continue.

As well as that it also covers any tools, machinery and equipment that are used, and often it covers any site huts or outbuildings (including caravans) as well so you’re completely prepared. It should also include public and employer’s liability cover, as this is the legal aspect of the policy, especially important in self build insurance situations.

Building site insurance in itself is not a legal requirement – although it’s practically impossible to get a mortgage without it – but public and employer’s liability cover is. This protects any contractors and even members of the public from any injury that could occur, and as with any business it’s essential to be covered.

Of course, the exact level of cover that you get will vary depending on the insurer and indeed the individual policy that’s chosen, but always make sure to do your research and compare several policies before you make your decision. Some companies will offer certain aspects, such as personal accident cover or existing structure cover, as standard whereas others will see them as an extra, so always check you’re getting the best you can for your money.