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Insurance for joint names insurance (JCT)

Joint names insurance policies are usually required when a home owner is extending or renovating their house, and the builder wishes their name to be added to the home insurance policy.

If you are a builder and wish to add the householder or bank or mortgage as joint name to your contractors all risks policy, please read further below.

At first, this seems an odd thing to do, but I will explain why this is fantastic for the builder, and could well be the requirement of your contract with them.

Let's start from the beginning. Most home insurance policies will not provide any cover in the event that a builder damages your home whilst renovating or extending it. This is known as a "contractors" clause.

As long as your builder is insured with adequate public liability insurance (to cover their negligence) and contractors all risks insurance (to cover the works in progress and the materials) this might not necessarily be a problem, if, for example, they accidentally burn your house down.

I would point out here though, that this procedure will inevitably be more lengthy than claiming off your own insurance – and that's assuming you can even prove that they were at fault.

From the builder’s viewpoint, of course, they would rather not have a claim against them at all!

The legal solution for the builder is to have a contract with the householder that they will not claim off the builder’s policy should they damage the property or works, and this is done by adding their name to your home insurance (ie joint names with you). This is known as a JCT (Joint Contracts Tribunal) contract and may well be organised by your architect.

Of course, most home insurance companies won’t cover any damage caused by the builder, won't insure any works in progress or materials and furthermore, most likely won’t add the builder as joint policyholder in any event.

This therefore appears to be an intolerable situation for yourself but, of course, we have the solution!

At Versatile Insurance we specialise in construction insurance and are able to arrange joint names policies that will cover your existing buildings, contents, works in progress and materials – all packaged up in one simple policy. Furthermore, we can also arrange JCT 21.2.1 (or JCT 6.5.1) non-negligence public liability insurance and structural warranties, making us your one-stop shop for all of your renovation or extension or self build insurance.

For builders, not only will you be comfortable in recommending Versatile Insurance to your customers as "the place" to go for joint names insurance, JCT insurance and structural warranties, we are pleased to advise that we can arrange contractors all risks insurance which will automatically include any party required under the contract as a joint name.

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