Insurance - Construction phase insurance
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N74TG
11-30-05, 09:20 AM
I am building my own house; pretty much doing all the work myself.
I want some home-owner's type insurance on the project during construction. My agent tells me they are covered under Builder's Risk policies, however the max length for the policy is 1 year (from start to move-in). I expect it to take longer than a year to build.
He also mentions they they don't even offer fire and extended coverage policies in my state (Arkansas) anymore.
Anybody got any ideas...thanks.
I want some home-owner's type insurance on the project during construction. My agent tells me they are covered under Builder's Risk policies, however the max length for the policy is 1 year (from start to move-in). I expect it to take longer than a year to build.
He also mentions they they don't even offer fire and extended coverage policies in my state (Arkansas) anymore.
Anybody got any ideas...thanks.
slumlordfrank
11-30-05, 04:28 PM
You need a general agent, not a "captive" agent. IOW, someone who reps multiple lines, not a "captive" of State Farm or Nationwide, etc. Check your local building codes, many areas the project MUST be done in a year.
frank
frank