Is your project protected?

With property prices ever-increasing and the eye-watering cost of moving, more and more people are opting to stay in the current home and undertake renovation work or build an extension, whether to add value or create a more practical space for changing family needs.

Of course no major project comes without its risks, but shocking 50 per cent of homeowners don’t realise that they won’t be covered by their existing home insurance when taking on work. With various contractors on site any manner of things can go wrong – from plumbing issues to accidental fire and theft to property damage.

Other factors that are notoriously difficult to fully plan are budgets and timescales. While it’s unlikely anyone will approach a major project without a guide for either in mind, they can be hard to stick to with unexpected hiccups inevitably causing delays and putting a strain on the finances – 87 per cent of renovations overrun and 92 per cent end up over budget.

To help remedy this, Hiscox has compiled expert advice for every type of extension and renovation. Simply answer the eight questions in the Project Planning 101 and get tailored advice on the various aspects of your project, what you need to be aware of and any risks you might face, helping you minimise any potential delays and losses.

Hiscox also recently worked on the Channel 4 programme Best Laid Plans with renowned architectural designer and TV presenter Charlie Luxton and property developer Sophie Morgan. The show demonstrated how existing room layouts, particularly in 19th and 20th century properties, can be altered to suit 21st century open-plan living. Hiscox also hoped to educate people on just how important having the proper insurance in place is and how if you don’t, you can be left with nothing. You can catch all episodes now on All 4.