Insuring unoccupied barn under conversion

[Finwoodhill]

Does anyone know of any specialist insurers who cover property developments? We are coming towards the end of a high-spec barn conversion, but many insurers seemingly will not touch it as it is empty. When we bought it we insured the barn in its previous state (ie, undeveloped, the building shell itself) but now we have spent tens of thousands on converting it and kitting it out to a high standard it will have almost trippled in value and the insured sum will come nowhere near re-build and replacing oak features, bathrooms, kitchen etc. Just need to cover it from now 'till it is let (when its status will change to occupied and it won't be such a problem). Any info appreciated (present insurers say it excedes the value of the development projects they are willing to cover)

[twix123]

Try Hiscox or Chubb as they cover high value buildings, otherwise speak to a local insurance broker and let them do the 'running around'.

[boxtops]

Does this help, I read your other post about this first, I'd assumed you were still developing http://www.theanswerb.../Question1055322.html

I'd agree re Hiscox, they are not cheap but they specialise in bespoke high end property insurance.

[The Builder]

I'm surprised you're having a problem with this, Fin. It's something I've done many times. You really should have had insurance that reflects the increase in value as the project progresses.
I've always used a broker for all insurances. They know the best ones to go with. You only need to insure the re-build cost........ not necessarily the same as the full market re-sale value.
Mine is simply a Contractor's All-Risk policy with a maximun single contract value which varies according to the size of whatever the current contract is.
This type of policy may not apply if you're not "trade", but acting simply as a private individual.
Try a broker. :o)