At MDRB Insurances, we understand that building or renovating your own home in Ireland can be a challenging and rewarding experience. However, it is important to be aware of the risks involved in a self-build project and take steps to protect yourself from potential losses.

Self-build insurance is designed to protect homeowners during the construction process by providing coverage for a range of potential risks, including theft, vandalism, and damage to the property.

In 2023, self-build insurance is more important than ever, as the construction industry in Ireland continues to grow and evolve. With more and more homeowners taking on such projects, the risks associated with these projects are also increasing.

As an insurance broker, we work with a range of insurance providers to offer our clients comprehensive self-build insurance coverage. We understand that every self-build project is unique, and we work closely with our clients to identify their specific needs and tailor a policy that provides the right level of coverage for their project.

Our goal is to help our clients protect their investment and give them the peace of mind they need to successfully complete their housing project. With our expertise and access to a wide range of insurance options, we can help our clients navigate the complex world of self-build insurance and find the coverage that is right for them.

If you are planning on building your own home in Ireland in 2023, self-build insurance should be a top priority. As an insurance broker, we are here to help you find the coverage you need to protect your investment and ensure the success of your project.

With this in mind let’s take a further look at Self Build Insurance in Ireland in 2023.

Time Constraint & Complexity

Building or renovating a home requires careful planning, coordination, and attention to detail, and can involve multiple contractors, suppliers, and building materials. This can make self-build projects particularly challenging, and can increase the risk of potential losses and damages.

According to recent statistics from the CSO, there has been a significant increase in the number of self-build projects in Ireland in recent years. In 2020, there were over 6,000 self-build projects started in Ireland, a 12% increase from the previous year. This trend is expected to continue in 2023 and beyond, as more and more homeowners look to build their dream home.

However, with the increase in self-build projects comes an increase in risk. Such projects can be particularly vulnerable to theft, vandalism, and damage during the construction process. For example, according to a recent report, theft of building materials is a major issue for self-build projects in Ireland, with losses estimated to be in the millions of euros each year.

To mitigate these risks, it is important for homeowners to have the right insurance coverage in place. Self-build insurance can provide coverage for a range of potential risks, including all of the above.

Obtaining Planning Permission

MDRB Insurances recognise the importance of having the right insurance coverage in place when applying for planning permission, and we can help our clients navigate this complex process.

According to recent statistics from the Irish Planning Institute, self-build projects are becoming increasingly popular in Ireland, with a growing number of homeowners looking to build their own homes. However, the planning permission process for self-build projects can be particularly challenging, and can involve a range of requirements and regulations. One of the key requirements for obtaining planning permission for a self-build project in Ireland is having the right insurance coverage in place.

This includes public liability insurance, employer’s liability insurance, and self-build insurance. These insurance policies are required to protect homeowners, contractors, and members of the public from potential harm or damages during the construction process. Without the right insurance coverage, homeowners may be unable to obtain planning permission for their self-build project which can lead to significant delays and additional costs, and can even jeopardise the entire project.

Peace of Mind

Self-build insurance can help to provide peace of mind to people looking to start construction of a new home in Ireland in 2023 by protecting them from potential financial losses and liabilities during the build process.

According to recent statistics from the, the average cost of a self-build project in Ireland can range from €150,000 to €400,000 or more. With such a significant investment at stake, it is important for home builders to have the right insurance coverage in place to protect their investment from potential losses and liabilities.

Self-build insurance provides coverage for a range of potential risks and in addition, it can provide liability coverage for injuries or damages that may occur during the construction process, helping to protect home builders from potential lawsuits or legal claims. By having the right self-build insurance coverage in place, home builders can have peace of mind knowing that their investment is protected from potential financial losses and liabilities.

Protect the Value

Building a home is a major investment and it is imperative for those considering a self-build project to protect the value of the property. As insurance brokers, we understand the importance of protecting the value of a property during the process, and we can provide our clients with the right insurance coverage to help them achieve this goal.

According to recent statistics from the CSO, property values in Ireland have been steadily increasing in recent years, with average house prices rising by over 8% in the past year alone. With such significant increases in property values, it is important for home builders to take steps to protect their investment and ensure that the value of their property is maintained during the construction process.

By having the right self-build insurance coverage in place, home builders can protect the value of their property and ensure that their investment is secure. This can help to maximise the return on investment and ensure that the property retains its value over time.

Talk with our team here at MDRB today, we are happy to bring you through the process and find the right type of insurance for your needs – contact us now or you can also get your free quote here.

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