Who offers self-build insurance in Ireland, and how to compare quotes

Self-build insurance in Ireland is mostly sold by brokers (firms that arrange cover with insurers for you) and specialist schemes, so the name on the quote is not always the name of the insurer. Below is what several providers state on their own sites and nothing more, followed by the questions that make two quotes comparable. For what the covers are and who needs them, read self-build insurance in Ireland. It is not a ranking, a recommendation or a complete list, and it gives no prices, because none of the provider material in Sources published one.

What do providers say about their self-build cover?

Each entry is taken from the provider page linked in its row, and provider pages change, so check the current version and your quote.

Provider	What it states
Arachas, source	Self-build insurance for new builds, renovations, conversions, owner-occupied works and extensions. Lists employers’ liability with a €13,000,000 limit, public liability with a €2,600,000 limit and own and hired-in plant at €5,000 (increased on request). Additional covers include buildings under construction to an agreed valuation, all-risks cover to building and materials, temporary dwellings and caravans (€30,000), plant (€30,000), household contents (€5,000) and employees’ tools (€2,500). Says it will update you on your quote within 24 hours and that Self Build Protect, which has provided self-build insurance since 2003, is now part of Arachas.
Self-Build Zone, source	Says it has provided specialist insurance to self-builders in Ireland and the UK since 2003. Its About Us text does not describe policy types, period or limits.
GMIB, source	Says standard cover includes property damage, employers’ liability, public liability and legal protection, with a flexible period of cover, a €13,000,000 employers’ liability limit and a €2,600,000 public and products liability limit. Contractors all risks covers storms, fires and damage, and plant and equipment can be added. Says it compares a panel of insurers. Its article is dated November 2016, so confirm every figure.
Optis, source	Publishes a self-build policy wording (the full policy text) rather than a sales page. Read it to see what a specialist policy actually promises, such as transit and off-site storage cover and conditions. Which brokers sell it is for them to say.

Two things stand out. Arachas gives plant cover as both €5,000 and €30,000 in different places, which is a reason to ask for the limit in your own quote rather than rely on a web page. And the GMIB and Arachas limits for employers’ and public liability match, which may mean the same underlying policy or may not. Ask each broker which insurer it uses.

Your lender is a separate question. One bank’s self-build mortgage steps require a building insurance policy before drawdown (the release of your loan in stages) and allow you to choose it from any provider. See what insurance a lender requires for the checks lenders make.

What makes two quotes comparable?

A cheaper quote is only cheaper if it buys the same thing. Give every provider the same project details, then check each of these in writing.

1. Sum insured and how it is worked out. The sum insured is the most the insurer will pay for the works. It should reflect the full cost to rebuild, including materials you supply and work you do not pay for in cash. See sum insured. A low figure lowers the premium and can leave you under-insured.
2. Period of cover and extensions. Ask for the start and end dates and what an extension costs if the build overruns. See stoppage of work clause and conversion to home insurance for what happens when you move in.
3. Employers’ liability. Needed if you directly employ or pay trades yourself. Ask for the limit and whether it applies to all workers, including those you pay in cash. See employers’ liability and insurance when you project manage.
4. Public liability. Ask for the limit. See public liability.
5. Materials on site, stored elsewhere and in transit. Ask whether theft of unsecured materials is covered and what the limits are. See the timber frame and modular guide for off-site goods.
6. Excess. The excess is the amount you pay of each claim. Ask for it for each type of claim.
7. Your own labour and unpaid help. If you or friends do some of the work, ask how the policy treats it, and whether an accident to an unpaid helper is covered.
8. Existing buildings. If the project includes an existing structure, ask whether the policy covers it or whether home insurance must stay in place. See insurance for an extension or renovation.
9. Exclusions and conditions. Ask for the list, especially for frost, water, fire safety and security. A condition you cannot meet on your site is a risk to your claim.
10. Lender and warranty requirements. Ask whether the policy names the lender, and whether it meets the terms in your mortgage offer. See structural defects cover for the separate insurance a lender or buyer may want.
11. Who the insurer is, and the broker’s fees. Ask which insurer stands behind the quote, whether the broker charges a fee on top of the premium and what it costs to cancel or change the policy.

Put the answers in a table with one column per provider. A blank cell means you have not got the answer yet, not that the answer is “no”. If a provider will not put an answer in writing, treat that as a reason to look at the next one rather than assume the best.

What should you send each provider?

• the address, planning permission reference, expected start and end dates;
• the build cost and the sum you want to insure;
• whether you will hire a main contractor or project manage the trades yourself;
• the construction method, such as block, timber frame or modular;
• any existing building on the site;
• the lender and the insurance conditions in your offer.

Answer every underwriting question truthfully, because the duty of disclosure means leaving out a fact a quote asks for can put a later claim at risk. Your broker or the quote form will say which facts are asked for, and you should re-check them at renewal or if the project changes, for example if the start date slips or the scope grows.

Where do you check a provider?

The CCPC’s insurance guidance for consumers explains your rights when buying cover. Before you pay, check that the firm is authorised in Ireland: the Central Bank of Ireland keeps a public register of authorised insurance intermediaries on its website. The firm’s quote should say which insurer provides the policy.

What to do next

1. Check which covers your project needs, and use the list as the questions for every provider.
2. Ask your lender what its offer requires, before you ask anyone for a quote.
3. Send the same details to at least two providers and ask for the answers in the checklist above, in writing.
4. Put the answers side by side, and pick on cover first, then price.
5. Read the policy documents before you pay, and keep them with your mortgage papers.