Builder’s Risk Insurance During Home Renovation
Home Remodeling and Insurance Coverage
When you’re planning to renovate your property, insurance may be the last thing on your mind. However, you may face exposures not typically covered under a standard homeowners insurance policy when making changes to your property. If a loss occurs during the project, you could be left having to face the expenses on your own. When preparing to add on to the existing structure or update it with new features, your homeowners policy might not provide you with the coverage. If you are doing major renovations to your home you will need a builder’s risk insurance policy.
Builder’s risk insurance is policy for construction projects, including interior and exterior home remodeling and property renovations. It is also used if you are building a new home from scratch. The builders risk policy provides coverage for the materials and structure during the course of construction.
When your home construction project is not properly insured, you risk devastating losses to your home and finances. To properly protect your home during the construction process you will need a builders risk policy.Whether you’re making minor structural changes, or doing a gut rehab, it is important to discuss the project with your insurance agent to see if a builder’s risk insurance policy is needed.
When you’re looking for homeowners insurance and builder’s risk insurance, the team at CAV Insurance can help. Your local agents in Wellesley are ready to find the right coverage to suit your needs, home, and budget. We serve homeowners in Dover, Needham, Brookline and surrounding cities in Massachusetts. Contact us to get started!