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I am getting liability and course of construction insurance to protect myself during the building process and to protect materials from fire. The policy does not cover theft of materials and apparently this isn't available. The problem is the quote I got is for $2500 for a year and they don't even do shorter policies, so if I finish in 6 months and get a homeowners policy, I don't get a refund.
Anyone have any better luck with this than I have? The company it is through is Triad insurance agency.
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I would check with Bishop Insurance (part of the American Savings Bank family) and see if they can do better. They are old-timers around here (one of the first insurance companies around).
Another would be Business Insurance Services. I had a homeowner's insurance crisis a while back and they saved my hide. I was 3 days from closing and the insurance company that had assured me that they could do the homeowner's insurance (and had ALREADY ISSUED THE INSURANCE BINDER) suddenly realized that they couldn't. Business Insurance Services saved me on that one. So, at least I know they can be creative and responsive.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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Another endorsing post for Business Insurance Services, they have been doing all my property insurance for the new houses I have been building for like 10 years.
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
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I tried to get "course of construction" and similar insurance and contacted every possible company. I was told by each and every one that because we are owner-builders (we hire contractors under our permit and do some work ourselves) that they could not issue any insurance at all. All we really needed was liability. Unless we had a licensed contractor doing the whole project, we were told, we cannot get any insurance. I realize this was probably not your situation but thought I'd tell you my sad tale. So until our house is totally rehabbed and finaled (could be years) we can not get insurance protection for family and visitors who might get injured on the property.
Posts: 798
Threads: 38
Joined: May 2005
Actually I am owner builder and not hiring a licensed contractor for anything other than plumbing and electrical, which may be why it's so expensive. Anyone else who is owner builder been able to get this insurance? Thanks.
