PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How do I get coverage for my home while it is under construction?
Do I need to buy an insurance policy while my home is being built? We are about to break ground on our new home. It should take about eight months to complete and I wonder if there is insurance that I should have at this time.
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Congratulations; building a new home can be very exciting!
There are insurance policies that you should have for the property while it is under construction. It is called a builders risk policy and either you or your contractor can purchase it.
Your building contractor should have some liability policy in place in case they are at fault for any injuries that could happen. They may also have a builder’s risk policy to cover things like explosion and theft.
It is recommended to acquire a certificate of liability from your contractor that clearly states what they have covered.
If they only have a liability policy for the construction workers, it will be your responsibility to purchase the builder’s risk policy.
If this is the case, you may want to get in touch with a company like
Progressive
or Nationwide. Both offer homeowners insurance and builder’s risk policies. Before you even start developing on the new site, you will need to purchase a standard homeowners policy.
This
homeowners policy
will have different coverage limitations during construction than when the project is complete. Since a builder’s risk policy does not offer liability coverage, a homeowners policy needs to be in place in the event of any liability losses.”
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies