Renovation insurance

Undertaking a renovation project at your property? When you make significant changes to your home it doubles as a work site, which brings unavoidable risk. There are even risks that could occur with smaller renovation projects. It is recommended that you speak with an advisor to check if you are adequately covered under your current home policy, or if extra protection is required. 

AMP site cover renovation insurance is designed to protect your current dwelling or new-build from any  accidental loss or damage that can occur throughout the renovation period, letting you rest easy during your home improvements.

What is renovation insurance?

AMP renovation insurance, otherwise known as site cover or a contract works policy, is designed to cover you for accidental loss or damage and other issues that may arise during a home renovation, whether DIY or contracted.

House insurance policies often fail to cover renovations, as they are designed to cover your home the way it is when you take your policy out. This means that if you undertake a renovation, any issue with the works may not be insured and any loss or damage resulting from the renovation may not be covered.

By combining an AMP renovation insurance or contract works insurance policy with an AMP Home Plan policy, you can get on with enhancing your house, knowing that you’re covered if the worst was to happen.

The importance of renovation insurance

You’re in the process of renovating your home, and then something unexpected happens. A piece of heavy machinery goes somewhere it shouldn’t. A wall is more load-bearing than you thought. You realise too late that you’ve made a design mistake.

A lot of homeowners are unaware that their home insurance may not cover them for any accidental loss or damage relating to simple or major renovations, additions or structural alterations, even when a qualified contractor is doing the work. Some homeowners also think that their builder's insurance will cover their own home should anything unexpected happen but the contractor's insurance will only kick in, if their negligence causes the loss or damage – their insurance is to cover their liability.

Your home is the most valuable thing you own. But you don’t want to risk doing damage to it and losing money on it in the process of trying to make it better – which is where AMP renovation insurance comes in.

AMP renovation insurance is designed to cover the work being completed and specifically to meet your needs. Ultimately it gives you the confidence and peace of mind knowing your construction project, and your home, is safe and protected.

Renovation insurance cover can include:

Contract works

‘Contract works’ encompasses all permanent and temporary work being performed at the insured site during the construction period. You should carefully consider the maximum liability and renovation cost (sum insured) to ensure it is sufficient to cover the value of the completed works. This includes temporary and permanent construction work, materials, wages, freight, customs duties and any works you want to include that involve subcontractors.