Why Risk It?
At Blue Ridge Custom & Log Homes, we recognize the thrill and anticipation that accompanies the construction of your dream residence. However, we also acknowledge the potential for unforeseen circumstances throughout the building process. Thus, we strongly advocate for considering builder’s risk insurance to safeguard your investment during this critical phase.
What is Builder’s Risk Insurance?
Builder’s risk insurance serves as a financial shield for your new home while it’s under construction, encompassing various potential damages, such as:
- Fire: Protecting against accidental fires, which can inflict substantial financial losses during construction.
- High Winds: Covering damage caused by strong winds to the structure, on-site materials, and temporary constructions like scaffolding.
- Vandalism: Assisting in covering repair or replacement costs due to unfortunate vandalism incidents during construction.
What’s Not Covered?
It’s crucial to recognize the limitations of builder’s risk insurance, as it typically excludes damages from:
- Earthquakes: Comprehensive protection often necessitates specific earthquake insurance.
- Floods: Depending on your location and flood risk, separate flood insurance may be required.
- Acts of War: Standard policies typically exclude these events.
- Intentional Acts of the Owner: Deliberate homeowner actions resulting in damage are not covered.
The Benefits of Builder’s Risk Insurance
Builder’s risk insurance provides several advantages, including:
- Peace of Mind: Assuring you that your investment is shielded from unexpected events, enabling you to concentrate on the excitement of home construction.
- Financial Security: In the event of covered incidents, the insurance aids in covering repair or replacement expenses, minimizing out-of-pocket costs.
- Fulfillment of Contractual Obligations: Some lenders or builders may necessitate proof of builder’s risk insurance for financing or construction agreements.
Blue Ridge Custom & Log Homes is Here to Assist
Navigating construction insurance for log and timber homes may seem daunting, but at Blue Ridge Custom & Log Homes, we’ve cultivated strong relationships with experienced insurance providers familiar with our clientele.
Don’t hesitate to reach out! We’re eager to delve into builder’s risk insurance further and connect you with dependable insurance partners capable of securing adequate and affordable coverage for your new home. Taking this proactive measure ensures peace of mind, allowing you to focus on the excitement of building your dream abode.