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Course of Construction

Course of construction insurance basically entails extra coverage beyond that normally offered to homeowners. This is because basic insurance for homeowners doesn't cover construction costs. So, the extra coverage can cover you against any bodily injuries or property damages that may occur in your construction efforts. Construction can sometimes be dangerous, as you know, so you should really look around for the best insurance rates and take the company that offers cheap yet comprehensive cover. Sometimes the general contractor pays the premiums; it just depends on the terms of the course of construction contract that you negotiate.
Some factors influencing the premium levels include:

- Location and relative safety of the construction site
- Square footage of the building
- Whether or not the construction site is within 1000 feet of tidal waters (which could flood)
- Is the project a remodeling or a new construction?

Choose your insurer carefully. Generally, course of construction insurers can set their own coverage options and rates without much state regulation. So just be aware of all the conditions of the contract that you sign. Of course, a benefit is that this type of coverage applies to any and all property at the he site construction site as well as to equipment kept in storage offsite. It even covers materials while they are being transported! If you've ever learned about construction equipment, you know how many thousands of dollars huge pieces of equipment can cost.
Other coverage options for construction insurance may include:

- Coverage for job site vehicles, trailers and offices
- Construction site contents
- Model homes and their contents
- Inventory of construction vehicles
- Protection against natural disasters such as earthquakes
- Builder's risk insurance

Finally, remember that this type of insurance is temporary. Remember exactly when the coverage ends! You don't want to be caught one day without permanent insurance on the property that was just constructed.

To better understand your insurance needs and obtain the service that is best for you, please contact Utopia Insurance Services right now at (877) 867-1467.
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