Home Renovation Made Easy In
Malaysia - YOU’RE THE BOSS AND GETTING YOUR INSURANCE RIGHT
YOU’RE THE BOSS
Home Renovation Made Easy In Malaysia It’s important to speak up early if you’re unhappy about any
aspect of the work, particularly things like the quality of the finishes and
the attention to detail. You have a right to expect a certain standard in your
home and it’s not unreasonable to hold your contractors to account. The earlier
you speak up, the quicker any corrections can be made, and the more likely the
contractors are to keep to your standards for all subsequent work.
A fixed-price contract with your builder should be an attainable
goal, and this is also a good measure of experience and confidence. A good
quality builder will be able to assess your property and your plans and quote
accordingly. All contracts that you negotiate should detail the scope, cost and
duration of the build, as well as the rights and responsibilities of both
parties. When dealing with tradespeople, aim to know as much about their role
as possible, including the materials you have chosen to work with and how they
should be used. This way, regular communication will reduce the likelihood of
errors, rather than muddy the waters with unclear instructions.
GETTING YOUR INSURANCE
RIGHT
One of the most common oversights that renovators make
is to assume that their insurance policy covers their property in any
circumstance. When you think about the potential for fire, flooding and theft
while your home undergoes dramatic change, you’ll realise that getting your
coverage right is just as important as your budgeting and planning processes.
There is no hard and fast rule for insurers – your policy may have certain
clauses specific to renovating, or you may not be covered during building works
at all. Some policies may continue to cover you for your normal home and contents
if you choose to live on your property throughout the duration of the works,
but if you vacate, the policy may cease to cover you.
The best thing you can do to remove all doubt about insurance
matters is to check your policy documents and call your provider directly to
discuss the intricacies of what you have and what you need. Take extensive
notes and repeat them back to ensure you’ve not misunderstood. If you’re happy
with a particular arrangement, request a copy of it in writing. If your insurer
cannot give you the required level of coverage in the case of damage or loss,
they may suggest that you find a separate policy for the renovation or pay
through your builder’s insurers. This can be done in the form of an additional
payment, from several hundred to several thousand dollars depending on the
scope of work and the value of your property, that will extend the builder’s
coverage temporarily to a third party. This is something you should discuss
with your builder before you’ve negotiated a fixed contract, because the
request may not be automatically agreed to by them or their insurer.
If you’ll be undertaking any part of the renovation yourself, or
coordinating it as a project manager, you’re probably going to need domestic
building insurance. Be prepared to encounter additional responsibilities
around occupational health and safety for sub-contractors which may require you
to take out Public Liability Insurance. You’ll also need to organise the
relevant permits, insurance and inspections, and your owner-builder Certificate
of Consent.
To further protect your home during a renovation, make sure it
is kept secure and try to disguise any vulnerable access points. Keep the lawns
trimmed and the mail collected, set up a fence, and perhaps set up some lighting
on a timer. It might also be prudent to have expensive fittings delivered later
in the build, when they can be stored safely.
Once your home renovation is complete, you’ll need to revise
your policy once more. The value of your home and its contents will have
changed (hopefully for the better!) Don’t assume that your current home and
contents insurance provider is still the right fit for your improved property.
Be sure to compare providers before locking in an agreement.
There is an incredible amount of organisation required to get
things moving, but your renovation experience can be an enjoyable one. Provided
you’ve covered all your bases and sought good, expert advice, the hiccups
should be minimal. And when it’s all over and the flicker of the idea that you
had long ago is fully realised before your very eyes, you’ll have a space that
is uniquely yours, ready to be lived in and enjoyed into the future and beyond.
