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If you’re building a new home or remodeling an old home, builders’ risk insurance should be provided to have proper protection for all parties involved. Most of the time your lender will require proof of builders’ risk insurance. If there is not a lender, then the homeowner should be requesting this of their builder.

Having a builders’ risk policy in place for your home building project will do two things. First, it will ensure that none of the claims that could arise during a build-out will fall under your responsibility. Second, the policy will also protect the builder from having to come out of pocket to pay for any claims.

You can see that this is a beneficial insurance policy for everyone. Contacting your independent insurance agent to go over details of your builders’ risk project is the first thing to do.