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Bronson Insurance Services

2345 W Ryan Rd, Suite H
Oak Creek, WI 53154

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Bronson Insurance Services Blog

Does Homeowner’s Insurance cover building a new home?

Most of the time, people buy their homeowner’s insurance for a house that is already built. Since you are building your house from scratch, how can you ensure a home that physically does not exist yet? After all, you have already paid for the land and perhaps paid a deposit to your contractor or purchased building materials, so if anything goes wrong now, you may suffer significant financial loss.

Luckily in Oak Creek, WI, folks at Bronson Insurance Services can help protect your most significant investment right from the start while it is still being built. A Builder’s Risk policy was designed for this specific need. It covers any loss incurred while the house is under construction. It protects everything from the time construction starts and remains in place until a predetermined date after the construction is finished. The policy provides reimbursement for when things go wrong with building materials, machinery used, equipment used on the building site, permanent fixtures, construction debris removal, pollutant cleanup, blueprints cost, landscaping, etc. Some policies may also include liability coverage in case anyone gets injured during the building process. 

The best part about taking out a Builder’s Insurance Policy is that you may choose not to have to pay the premiums yourself. When you draw up your construction contract, it may include a clause that the contractor must take out a builder’s risk policy as part of that contract. Of course, you may want to take a policy out yourself to ensure sufficient coverage when calamity strikes.

Contact us

Life is unpredictable, and a lot can go wrong when building a house from scratch. A builder’s Insurance policy guarantees that you or your contractor will obtain funds to repair or rebuild in case of a loss. To discuss your exact needs, contact Bronson Insurance Services in Oak Creek, WI for details.

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