Planning on Performing a Home Renovation? You may need to change your insurance.


Your homeowner's insurance policy won’t cover perils like vandalism and theft if the dwelling has been vacant for more than 60 consecutive days prior to the loss. If your home renovations require you to live elsewhere for a few months, you may want to consider a builder's risk policy.

Builder’s risk vs. Homeowners Insurance


Homeowners insurance and builder’s risk insurance have some differences. Homeowners insurance is for completed homes, while builder's risk insurance is for homes undergoing significant construction. Insuring a house built from the ground up differs from insuring a house already built, as each requires different coverage. Homeowners insurance protects the structure of your home, covers its contents, provides coverage for additional living expenses, and offers liability protection. Builder's risk insurance covers the property while it is under construction.



What is Builder's Risk insurance?

Builder's risk insurance is a specialized property insurance that protects buildings and structures during construction, covering various risks such as fire, theft, and vandalism.



WHY WOULD I NEED A BUILDER'S RISK POLICY?

A builder's risk policy is essential for protecting construction projects from unexpected events that could lead to significant financial losses, covering damages to the structure, materials, and equipment during the construction phase