Comments on: What type of insurance should an owner-builder carry during course of construction? http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction California & Nationwide Construction Loans Mon, 10 Oct 2011 22:00:09 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: MARK S http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction/comment-page-1#comment-42 MARK S Mon, 08 Mar 2010 08:02:59 +0000 http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction#comment-42 Course of Construction (COC) policy. Also called Builders Risk but usually Builders Risk is used for commercial construction. I know Farmers Ins. sells COC's for a very low premium.<br><b>References : </b><br> Course of Construction (COC) policy. Also called Builders Risk but usually Builders Risk is used for commercial construction.
I know Farmers Ins. sells COC’s for a very low premium.
References :

]]> By: Jessica http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction/comment-page-1#comment-41 Jessica Mon, 08 Mar 2010 07:27:59 +0000 http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction#comment-41 The policies we sell are called builders risk. <br><b>References : </b><br> The policies we sell are called builders risk.
References :

]]> By: mbrcatz17 http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction/comment-page-1#comment-40 mbrcatz17 Mon, 08 Mar 2010 06:56:59 +0000 http://www.constructionloanz.com/owner-builder/what-type-of-insurance-should-an-owner-builder-carry-during-course-of-construction#comment-40 For the liability, you should be able to extend the liability from your primary house, to this "secondary location", for under $50 a year. That's the best way to do it. BUT, for the property, you're looking at a "Builder's Risk" policy. Some homeowners carriers will write a homeowners with a builder's risk endorsement on it, for cheaper than a straight builders risk policy. Any local, independent agent should be able to help you out with either of these. Sounds to me like you're only asking your State Farm or Nationwide agent - these types of captive agents have a pretty narrow scope of what they can and can't insure. An independent agent, will have a LOT more options. And shame on your current agent, for not suggesting extending the liability to the place under construction.<br><b>References : </b><br> For the liability, you should be able to extend the liability from your primary house, to this "secondary location", for under $50 a year. That’s the best way to do it.

BUT, for the property, you’re looking at a "Builder’s Risk" policy. Some homeowners carriers will write a homeowners with a builder’s risk endorsement on it, for cheaper than a straight builders risk policy.

Any local, independent agent should be able to help you out with either of these. Sounds to me like you’re only asking your State Farm or Nationwide agent – these types of captive agents have a pretty narrow scope of what they can and can’t insure. An independent agent, will have a LOT more options.

And shame on your current agent, for not suggesting extending the liability to the place under construction.
References :

]]>