How To Insure A House You’re Building
Building a home can be very exciting. You can talk about plans and colors and landscape and, while it is a little overwhelming, the end result is very nearly perfect! But how do you insure a house that you’re building?
When you talk to your CT insurance agent about it, they will need to know a few things:
- They will need to estimate a replacement cost for the house.
- Are you hiring a general contractor, or are you the general contractor on the project?
- How long will it take for the project to reach completion?
These seem like three very simple questions, but in order to properly insure your house-in-process, there are specific steps you and your agent must take. Depending on the answers to these questions, you will be getting some very different policies—not your average Connecticut Home Insurance policy, that’s for sure. You also have some limitations that might be set by the insurance companies depending on how you answer those questions.
The bottom line is that you’re about to invest a lot time, energy and money into your home—the place where you will make memories and build a family. Never assume coverage and make sure to have a chat with your agent before work has begun; if you start work on the project before you talk to your agent about properly insuring the project, it will be too late.
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