Builder's Risk Insurance
Builder's risk insurance is an insurance coverage that helps protect your buildings, structures that are under construction or renovation. Builder's Risk coverage also include protection for the equipment’s and construction materials used in construction. Olympic Insurance is committed to helping you find a policy that is best for you. Home remodeling insurance (also called remodeling builder's risk insurance) is property insurance that covers structures under construction or renovation.
Homeowner's insurance protects permanent structures. Once you begin making changes to a home - no matter how small - it becomes a structure in transition. That's where a home remodeling policy comes in.
The Most Common Risks of Home Remodeling
Theft of air conditioners, appliances, building materials, kitchen cabinets, water heating systems and expensive copper piping.
Vandalism while being remodeled such as damaging fixtures, hammering walls and spray painting.
Debris Removal - with multiple contractors working on a renovation, accidents happen. Paint thinner left unattended can become an accidental explosive that lights an entire home on fire. The cost of debris removal can be unpredictable.
Property in Transit or Storage - a typical homeowner's policy will nly cover materials once they are installed. However, home remodeling insurance covers materials whether they're on the the back of a truck or in a temporary storage unit.