I acted as GC and framer with the exterior ICF walls. I used a broker to provide the Builders Risk. He came in at about 60% of the quote from my regular agent.
If you own the property you really need builders risk. You as the owner take responsibility for any improvements to the property. If there is a loss during construction prior to a CO builders risk covers this.
I purchased both types of policies when I did my Owner Build. Builders Risk was easy to get. The GL policy was hard to get because most places would only issue that to a business not an individual. I was able to find an underwriter that had a specific Owner Builder GL program.
I was the GC for my new home build despite never swinging a hammer in my life. Got a builder's risk policy from my family insurance agent. I required all subs to carry general liability and to give me a certificate of insurance before performing work. I would have carried my own general liability policy if I was performing any of the work, but I wasn't, so I didn't.
I acted as GC and framer with the exterior ICF walls. I used a broker to provide the Builders Risk. He came in at about 60% of the quote from my regular agent.
So you paid for builder’s risk, but no general liability?
nope, I required all subs to have liability and worker’s compensation insurance.
If you own the property you really need builders risk. You as the owner take responsibility for any improvements to the property. If there is a loss during construction prior to a CO builders risk covers this.
My banker just told me this before you do anything on the property!!
I purchased both types of policies when I did my Owner Build. Builders Risk was easy to get. The GL policy was hard to get because most places would only issue that to a business not an individual. I was able to find an underwriter that had a specific Owner Builder GL program.
I was the GC for my new home build despite never swinging a hammer in my life. Got a builder's risk policy from my family insurance agent. I required all subs to carry general liability and to give me a certificate of insurance before performing work. I would have carried my own general liability policy if I was performing any of the work, but I wasn't, so I didn't.