Should You Have Construction Insurance While Building a New Custom Home?If you’re planning to build a new custom home, the process could take some time. In fact, depending on the specifics of the residence, as well as the availability of materials, it may be a year or more before you are able to move in. But even though you haven’t unpacked any boxes yet, it is important to ensure that your new abode is protected by insurance from damage, theft, and other potential perils that may occur during the construction process.

For example, a builder’s risk insurance policy covers a home while it is under construction. This type of protection – which is also often referred to as new home under construction insurance – will include coverage for vandalism and theft of the tools that are being used to build the home.

Unlike regular homeowner’s insurance, new home under construction coverage also provides protection for the risks that are faced when materials (such as fixtures) are in transit to the building site. Plus, after the items are installed in the home, this coverage may continue until you actually take ownership and move into the structure.

Builder’s insurance policies will typically provide coverage that lasts for up to a year. However, the time may be extended if the project runs longer due to delayed materials, construction slowdowns (due to inclement weather), and various other situations.

If you’re planning to build a custom home in Orlando or the surrounding Central Florida area, give Rare Builders a call and talk with one of our design experts who can help you to take the idea of your dream residence and turn it into a reality. We can be reached at (407) 401-7575 or via email by going to [email protected]. We look forward to meeting you.