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Finding house under construction insurance

If you're building a house are you going to need house under construction insurance? This is something you need to investigate yourself, but it normally depends on who owns the land and the home during construction.

If the builder holds title of the land during construction then normally their own builder's insurance should be enough coverage and house under construction insurance isn't required. But if you own the land yourself and the building materials, but won't be doing the work, you need to look into getting some insurance.

 

Policy Options

There are a few home under construction insurance policies and alternatives you can consider. One is a standard home owner policy, which should cover your home against damage regardless of whether it's being built or not. However, you should check ever detail of your policy first to ensure you're fully covered.

A builder's risk insurance policy is another viable option. It insures the property for damage and the building materials; the coverage for this type of policy is normally quite broad and a good alternative, and it can also be included on a standard home owner policy.

 

Comparing Policies

If you want to find the best deal for your home under construction insurance it's imperative to shop around. Insurance policies and rates vary from company to company - the cheapest deal might not provide the best cover, so you'll need to check the premiums you'll be paying as well as the overall coverage you'll receive.

You can use price comparison websites as a quick and easy way to compare quotes and basic cover policies, but be aware that not all companies are included on price comparison websites. If you want to explore the whole market then you'll have to do your own searches and enquiries.

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