General Insurance. A Grand Lesson for Homeowners?
National Account Manager for Protection Craig Bryce looks at the lessons that can be learnt from the recent disaster that left an innovative eco home and its owners devastated in an instant
A recent story regarding an eco-friendly house featured on Grand Designs has for me put the focus back on the importance of general insurance such as building and contents cover.
The three-bedroom eco home, which was dubbed the “cheapest house ever built in the western hemisphere”, was mostly destroyed on New Year’s Day by what was believed to be an electrical fire, leaving the owners heartbroken after years of hard work put into the project.
The worst part was the unlucky owners had spent six years building their home, which makes the devastation even more palpable. Known as The Undercroft, the building cost a mere £27,000 to construct, making use of reclaimed materials in the land around it to create sheep’s wool wall insulation and felled trees as building materials.
The Dales, who owned the innovative house, said that they had been “making a home they know will last”. They started building their home with only £500 in 2012, and moved in to the home in October 2013, finishing the project in 2014.
That the home burnt down just a short time after is I think a stark reminder that the thing least expected can happen. This can be an expensive lesson to learn if suitable cover is not in place. Fortunately, there are types of self-build insurance that can help you protect your clients as they set out to build their own home.
The risk may seem worth taking when everything is ticking over nicely, but regret comes too late if the worst was to happen. The right cover can ensure your client has the peace of mind of knowing that if this was to happen, they are protected.
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