Homeowner??s insurance during renovation

Do I need an additional insurance on the house on top of my GC´s insurance? Or is it enough to have a general liability insurance in place. I am not doing work myself.

Augustiner

in Insurance 13 years and 4 months ago

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Augustiner | 13 years and 4 months ago

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Thanks for the answers. So adding myself on the contractor’s insurance would be cheaper? I a currently being quoted 10k for one year insurance, and that seems high to me. I mean how could I be liable if the walls caves in because of construction?

geekyfemme | 13 years and 4 months ago

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You should make sure your contractor adds you as an additional insured on their policy. This is key.

Silvermax | 13 years and 4 months ago

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You need Builder’s Risk insurance if you’re doing major renovation — and it’s _hideously expensive_. Your homeowner’s insurance will not apply during a renovation in the event of something going terribly wrong (e.g., a fire, a worker gets injured, the back wall caves). The GC must have insurance but if there’s liability, any injured party can go after you as well….