Thousands of Home Insurance Policies at Risk

Many new build home insurance policies are at risk following the collapse of insurance firm Alpha.

Alpha, who supplied 10-year structural defects insurance for new homes, was declared insolvent in early May 2018. This means that those homeowners who had taken out their structural warranty with Alpha are now left without cover.


Quick tip

Paint effects

Try out different paint effects to give your home a new look, try rag rolling, stippling or marbling. If you’re handy with a paint brush and eager to let your inner artist out, then consider painting a trompe l’oeil effect on a wall. Remember you could simply project an image onto a wall and paint around it – you don’t need to be a great artist to have a go at this. So get your paint brushes out and get creative.


 

As many policies are purchased through a broker, some homeowners may even be completely unaware that their policy has come to an immediate end.


Electrical Tip

“Although at first glance lighting, sockets and off-peak heating in France may all appear familiar, closer investigation will reveal that the installation methods are different to those employed in the UK”

Excerpt From: Thomas Malcolm. “Electricity in your French house.” iBooks. https://itunes.apple.com/gb/book/electricity-in-your-french-house/id413215097?mt=11


 

When it comes to self builds, many lenders insist on this cover being in place before issuing any loans, so an invalidated warranty could jeopardise your entire project.

Paul Kempton, Managing Director of leading self build insurance provider Self Build Zone, says:

“It may well be that your current project has not reached ‘completion’ as yet although you have paid the premium. In which case you should, in theory, be able to get a refund of any premium from the broker and use this to purchase a new policy from a reputable insurance professional and an Arated insurer.

“If you have already reached completion and have your policy then effectively you have a worthless piece of paper. You will have to rely on the Financial Services Compensation Scheme (FSCS) if you have any claim”.

Selling Your House

“Selling your house [within the 10-year period covered by the warranty] could be an issue in that you have no policy to transfer and the rights under the FSCS will not apply to the new owner. This effectively means you will have to buy a retrospective warranty – which, if acceptable to the lender – will require an expensive Completed Housing Survey and then the premiums charged will be expensive.

“Self Build Zone has always maintained that everyone who buys structural warranties should only do so from A-rated insurers.”

Are You Affected?

If your warranty was provided through Alpha then it is no longer valid and you need to source replacement cover as soon as possible.

Getting Replacement Cover

If you are looking to replace your cover for your self build, renovation or extension project, Homebuilding & Renovating has partnered with leading insurance specialist Self Build Zone to provide bespoke insurance solutions at market-leading rates. 

Contact Self Build Zone

See the original article here https://www.homebuilding.co.uk/new-home-insurance-policies-at-risk/


Quick tip

Paint effects

Try out different paint effects to give your home a new look, try rag rolling, stippling or marbling. If you’re handy with a paint brush and eager to let your inner artist out, then consider painting a trompe l’oeil effect on a wall. Remember you could simply project an image onto a wall and paint around it – you don’t need to be a great artist to have a go at this. So get your paint brushes out and get creative.


 

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Off-peak

“If you elect to have off-peak (heures creuses) electricity, then EDF will provide you with wiring controlled by their equipment to switch your off-peak system on and off. The EDF off-peak equipment is usually a relay located beside their meter and fusegear. This relay is meant for the control circuit functions of your contactor (contacteur) or off-peak relay (jour/nuit) only. It must not be used to directly control equipment. The EDF relay is timed to operate in the usual manner at the predetermined off-peak times”

Excerpt From: Thomas Malcolm. “Electricity in your French house.” iBooks. https://itunes.apple.com/gb/book/electricity-in-your-french-house/id413215097?mt=11


 

We are a new website, we are still growing our content, we want everyone that is renovating in France to help us feature what we all wanted to know when we all started, contact us with all your experience and tips, we live just south of Celles Sur Belle, in Deux Servre, 79, and are just about to start out on our next renovation, every job we start on, every problem, product or skill we need to learn about i will try and find some useful information on the internet and share it with you, yes I could do this by sharing it on facebook, but the problem is it just helps facebook and disappears down the timeline, here links and articles will be searchable and here permanently for you to book mark and refer to, so watch this space … and if you have links and articles that have helped you let us know !!1

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