Building a new, custom home can be a magnificent experience. Choosing your room layout, colors, and floor coverings can truly make the home all yours, and it can essentially mark the property 
with your own personal signature. But, even during the building process, things can sometimes go wrong. For instance, storms, wind, hail and other natural perils could potentially cause damage to your property – even long before you have actually moved in. Likewise, if someone were to become injured on the premises, you may also be liable for medical and / or legal costs.
If you have hired a builder to construct your new home, it is important that you not just assume that the builder has all of the insurance protection that you need. Typically, a builder will carry builder’s risk insurance.
While this type of insurance policy is geared to covering a home when it’s under construction, this will generally just include vandalism and theft of the builder’s tools, and the materials and equipment that are being used to build the home. However, this type of policy will not provide you with liability protection.
Prior to moving forward with the building of a custom home, it is important that you check with your builder in order to determine exactly what type of insurance coverage they do and do not carry. Knowing this detail can offer you some insight in terms of what type of additional protection you might need.
Having a good, solid homeowner’s insurance policy in place before the building process begins can provide you with the protection that you need on what may be a substantial amount of risk.
Working in conjunction with an experienced custom home builder can be beneficial in that they will be able to answer the questions that you have about insurance, as well as other details that could otherwise be overlooked.
Considering a new custom home in Orlando or Central Florida? Contact Us for more information.
