|
|
|
|
|
|
|
|
Builder's risk
Designed to protect your home while it's under construction. Covered items typically include wind and fire damage, vandalism and theft. This type of insurance generally includes a limited amount of liability protection. |
|
|
|
|
|
|
|
Worker's compensation
Covers injuries and lost work time that occur on the job. Requirements vary across the country, but generally worker's compensation is carried by the builder and sometimes by the subcontractors and the suppliers. Often, buyers obtain worker's compensation insurance during the construction of their home. |
|
|
|
|
|
|
|
Liability
The builder, the subcontractors and the suppliers need to have auto and general liability coverage throughout the construction of your home. The buyer may very well need a good liability policy too.
Whether the buyer or the builder must obtain, pay for and be protected by each type of insurance policy depends on the contractual agreement between them. Be sure to understand what insurance is needed and make sure the correct policies are in place before construction begins. |
|
|
|
|
|
|
