It’s just another Saturday morning, watching home improvement shows or reading the latest home decorating magazine. Then it hits you, it’s time to redo the bathrooms and kitchen. The “do it yourself” bug got you and you’re in the hardware store ordering supplies. Projects like remodeling or renovating and home additions. Master suites, Mudrooms, creating an open concept and making your outdoor space more Southern California friendly have become the recent trends. But these projects aren’t just for aesthetic reasons. Your family needs may have changed, you might be settling in for retirement, bringing the parents to live with you, becoming more energy efficient or making the home more automated. Any of these reasons has led you to the planning department and now you’re in a construction project.
But does your homeowner insurance policy cover your liability and property while in construction? The answer is tricky, each insurance carrier and policy is a little different and each project is different too. However, for the standard policy, the answer is no. Things like the theft of building materials, vandalism of the project, property owned by contractors, debris removal, property at a temporary location and property in transit are only a few items not covered for a construction project. Your liability while you have contractors on premises is also not covered by the homeowner’s policy. What about the workman’s compensation?
To help cover these gaps, we suggest Builder’s Risk and Course of Construction policies. A Builder’s Risk policy covers your property that isn’t already covered on another policy and the Course of Construction is your premises liability for the project site.
Our California Insurance Plans:
• Residential and commercial structures - all residential projects, and small commercial projects valued up to $75 million.
• New construction, remodeling and installation projects for owners, builders, development companies, investment companies, house flippers or licensed contractors.
• Projects of all sizes and values are eligible.
• Rate, quote and issue coverage in minutes over the phone.
• Industry-leading coverage with Admitted Carriers.
• Ground-up construction that has already started is eligible.
• Demolished structure with standing foundation is eligible.
• Existing structure undergoing renovations is eligible.
• Equipment floater insurance.