Building Your Dream Home This Year? Be Sure to Have Builder’s Risk Insurance
Creating your home from the plans to the finished product is an exciting time. You are living the American Dream and having a home of your own custom designed and built. During all the excitement, it is important not to get caught up in the dream and remember some down to earth details. Protect the structure and the team on the job with builders risk insurance.
Based on the total completed value of the home you are having built, builders risk insurance will cover issues arising during the construction period. Insurance of this kind may be issued for a three, six or twelve month period. If, as happens in construction, things take longer, the policy can be extended.
Insuring the Structure
When a home is coming together it is up against many risk factors. Remember, a home which is just a frame is much more vulnerable than a framed, insulated and finished structure. Some of the things which builders risk insurance will cover include:
Not only will the building be protected with this type of coverage, but other pieces of the puzzle will fall under the insurance as well. Additional items which may be covered include:
- Blueprints and Contracts
- Debris Removal
- Fire Department Services
- Property in Transit
- Property in Storage
- Sewer Backup
Ensuring You Are Covered
Along with obtaining a policy which will cover your dream home, it is important to see what type of insurance the contractors will have. You want to be sure that every inch and every person working on your home is safe.
To help you navigate which insurance you will need for building your dream home, contact our team. We will make sure that from the nuts and bolts to the property itself, you dream house comes true!