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+--- Thread: OB or GC? Insurance might decide for you (/showthread.php?tid=3507)
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RE: OB or GC? Insurance might decide for you - maud gonne - 08-13-2008
Quite a while ago we had another discussion on this forum about homeowners (& course of construction) insurance, and then up until now (over a year) I have been unable to get ANY liability insurance for my property. If someone gets hurt, I'm toast. I've tried every insurance co and the state's list & website. We are owner-builders and don't even want insurance for the unfinished house (which has a current valid bldg permit) but I do desperately want liability coverage. Anyone have any suggestions?
RE: OB or GC? Insurance might decide for you - Menehune - 08-14-2008
Aloha!
maud gone
" We are owner-builders and don't even want insurance for the unfinished house (which has a current valid bldg permit) but I do desperately want liability coverage. Anyone have any suggestions?"
We have had an "umbrella" Liability Policy for years - our agent said it was the only liability protection for those issues where you CANNOT get specific liability coverage.
Just noticed that "EightFingers" said the same thing in "Property Insurance" - I acquiesce to his earlier post.
Mahalo!
RE: OB or GC? Insurance might decide for you - John S. Rabi - 08-14-2008
Just remember guys, you can not get a loan without having insurance, regardless of who is building your house!
Aloha,
John S. Rabi, GM,ARB,BFT,CM,CBR,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
RE: OB or GC? Insurance might decide for you - maud gonne - 08-14-2008
Thanks Menehune & Eightfingers. I'll try again, using the term Umbrella policy. It sounds like what we need (protection in case of lawsuits).
RE: OB or GC? Insurance might decide for you - maud gonne - 08-15-2008
Okay, second go-round. My insurance agent said that an umbrella liability policy was for additional liability coverage in addition to the max. amounts for your homeowners and/or auto. But the catch-22 is that you have to have the initial coverage first in order to get the additional umbrella coverage. My problem: I can't get the initial coverage. Menehune, would you be willing to give me the name of your insurer? Perhaps your company could help me.
RE: OB or GC? Insurance might decide for you - Menehune - 08-16-2008
Aloha!
maud gonne - Have not transfered to a Hawaii office/agent yet - BUT we are insured with "State Farm Insurance Company" California and our agent did not anticipate any problems.
Mahalo!
RE: OB or GC? Insurance might decide for you - Bob Orts - 08-16-2008
maud gonne, my umbrella policy is an addition to my homeowners policy on my mainland property and house. The property on Hawaii is undeveloped and there wasn’t a policy available. So, my mainland homeowner’s policy extends coverage (it opens an umbrella to provide protection) to the Hawaii property.
RE: OB or GC? Insurance might decide for you - FNG - 08-16-2008
quote:
Originally posted by Menehune
Aloha!
maud gone
" We are owner-builders and don't even want insurance for the unfinished house (which has a current valid bldg permit) but I do desperately want liability coverage. Anyone have any suggestions?"
I just bought COC insurance with Pyramid using Kevin, and if I remember correctly, you cannot get liability if you are already building your abode, you need to buy it before you break ground.
My premium is 1,442 dollars for 9 months.
FNG