Before the Dust Settles: The Essential Insurance for Home Projects
Many homeowners assume their standard home insurance will cover renovations—but that’s not always the case. In fact, most homeowners policies have limitations or exclusions when major construction is taking place.
Without Builder’s Risk Insurance, you could be responsible for thousands of dollars in damage if something goes wrong during the renovation process.
Real Risks During Renovation
Renovation projects come with many unpredictable factors:
A fire caused by electrical work
Tools or materials stolen from the site
Wind or storm damage before the roof is finished
Water leaks from incomplete plumbing
Vandalism while the property is vacant
These are real risks that can derail a project and inflate costs. Builder’s Risk Insurance helps ensure that you're not left footing the bill for these unexpected events.
Who Should Carry the Policy?
In most cases, either the homeowner or the contractor can purchase the policy—what’s important is that someone does. Make sure it clearly defines:
Who is insured
The coverage limits
The construction timeline
What’s covered (and what’s not)
Consulting with your insurance agent or provider can help determine the right level of coverage for your specific project.
When Should You Get It?
Ideally, Builder’s Risk Insurance should be in place before construction starts. Most policies last 3, 6, or 12 months depending on the scope of the project and can be extended if needed.
Delaying coverage could mean missing the opportunity to protect your project during its most vulnerable stages.
Final Thoughts
Renovating your home is an investment—not just in your property, but in your lifestyle and comfort. Protecting that investment from unexpected damage or delays is not just smart—it’s essential.
Builder’s Risk Insurance offers the security and peace of mind you need to see your project through to completion, no matter what surprises may come along the way.
Before you pick up a hammer or bring in the contractors, take a moment to make sure your renovation is properly protected. Talk to RISE 📞 423-541-1111
