Build over Agreement Insurance

Build Over Agreement Insurance: Protecting Your Property Investment

If you`re planning to construct a new building on your property, it`s important to be aware of the need for a Build Over Agreement, which is a legal agreement with your local water authority allowing construction over or close to a public sewer. But what happens if something goes wrong during construction, causing damage to the sewer and potentially affecting your property and those nearby? This is where Build Over Agreement Insurance can come in handy.

Build Over Agreement Insurance, also known as Sewer Indemnity Insurance, is a policy that provides coverage for damage caused to a sewer by your construction work. This type of insurance is essential for any property owner planning to build near or over a sewer, as it protects their financial investment and ensures they don`t have to bear the cost of any repairs needed as a result of damage to the sewer.

The benefits of Build Over Agreement Insurance are clear. Firstly, it provides peace of mind for property owners who are undertaking significant construction works. By having an insurance policy in place, they can rest easy knowing that they are financially protected in the event of any unforeseen circumstances. Secondly, it reduces the risk of disputes that might arise if damage is caused to a sewer due to construction work. As the insurance policy will cover any necessary repairs or costs in such cases, property owners won`t have to worry about being held responsible for the cost of repairs and potentially causing damage to neighbouring properties.

It`s worth noting that Build Over Agreement Insurance policies are usually valid for a set period of time, typically five years or more. This means that property owners can enjoy ongoing protection for the duration of their construction project and beyond. In order to obtain this insurance, property owners will need to provide details on the nature of their construction work, as well as any relevant information about the sewer in question. This information is used to determine the level of insurance required, as well as the cost of the policy.

In conclusion, Build Over Agreement Insurance is an essential form of protection for any property owner looking to undertake construction works over or near a public sewer. By having this insurance in place, not only can property owners safeguard their financial investment, but they can also ensure that they won`t be held responsible for any damage caused to the sewer. To learn more about Build Over Agreement Insurance and how it can benefit you, speak to an experienced insurance broker today.