New Construction Insurance Atlanta, Georgia
Key Considerations for Insuring New House Construction
Building a new home? Congratulations! It’s an exciting time for your family. Soon you’ll have a new roof over your head and a great place for making memories together.
But before you put the blueprints into action, it’s important to consider how insurance factors into the construction of a new home. After all, you’ll definitely want to protect this dream in progress! Below we outline our best tips on what to keep in mind as you build your new home.
Do You Need Home Insurance on a New Build?
Before you begin building, it's wise to pick up a new home under construction endorsement to assist with the replacement costs of equipment or materials stolen from your site that resulted in a covered loss. And if the basement foundation should collapse due to hydrostatic pressure, you could find yourself underinsured without this key coverage.
What's the Difference Between Home Insurance and New Home Under Construction Insurance?
New home under construction coverage is key insurance that protects your home and big investments while it’s being built. The coverage is more specific than a standard homeowner’s policy.
Unlike homeowners’ insurance, new home under construction insurance covers exactly that: the risks that construction materials face when fixtures, uninstalled equipment are on-site or in transit to your home. Even after installation, these expensive items will remain covered under this policy, until you take ownership of the home, and the new home construction policy is no longer active.
Because finding the right insurance during the construction of a home is so important, we recommend that you contact our agency and go over your plans, construction start dates and coverage options.