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Construction Insurance


Construction Insurance Information

Construction insurance, or builders risk insurance, covers your home or business property while it's being built. This is important because buildings that are under construction face different risks than those that have already been built. As such, home or commercial property insurance doesn't apply to a structure that's under construction, while builders risk insurance won't cover a completed structure.

Construction insurance takes effect once materials are ordered for the work site. The policy is generally cancelled as soon as the property is sold or occupied. However, if the policy expires before that time, you might need to either renew the policy or get another one.

Since construction insurance is designed solely to make policyholders whole after a financial loss, any damage to the potential value of a finished home or structures isn't included. If a fire was to ruin a structure and building supplies as it was under construction, the insured would only be reimbursed for the financial loss they experienced through the destruction of the structure and building materials. Any damage to the structure's potential value would not be covered under the policy. That said, some policies can include coverage for additional losses, such as interest spent when a project takes longer to complete than originally anticipated.

Both residential and commercial properties can be covered under construction insurance. Vacation properties and properties intended to be quickly sold to residential buyers are also eligible for coverage.

G & H Financial Insurance represents some of the best insurance companies in the country, and we can provide the best insurance at a competitive price. Please call 1 (877) 868-8063 or 281-395-5497 to learn more about the policies we provide, or just fill out and submit our online form to receive a quote.


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