Building a home? Make sure your insurance covers that!

happy couple looking at new house under construction

Building a home is exciting, but have you ever wondered what would happen if a flood, storm or fire occurred in the middle of the process? Builder’s risk insurance is the coverage that helps protect the building – materials, supplies and equipment – while under construction. Coverage typically covers damages due to fire, lightning, hail, explosions, theft, vandalism and acts of God, such as hurricanes.

Everyone involved in the build needs coverage, which can also cover costs associated with lost sales, rental income, additional interest or taxes. Just like you can add flood insurance to your homeowner insurance, you can add extensions to your builder’s risk insurance to cover things like temporary structures and scaffolding or risks such as damage due to faulty design or wear and tear.

For more information on builders risk insurance, please call an agent today at 800-217-7585.