Build Fax, a company that tracks construction information for millions of U.S. homes, reported that the number of household remodeling projects has increased steadily over the past 23 months. Many are choosing to remain in their homes and make necessary modifications due to declining home values. Buyers are also buying foreclosure properties at low prices and remodeling them to suit their needs. It's vital that homeowners know they might need Course of Construction Insurance, also known as Builder's Risk Insurance, because there are so many construction projects underway.

1. Access Insurance

2. What Is Covered Under Course of Construction Insurance?
Build Fax, a company that tracks construction information for millions of U.S. homes, reported that
the number of household remodeling projects has increased steadily over the past 23 months.
Many are choosing to remain in their homes and make necessary modifications due to declining
home values. Buyers are also buying foreclosure properties at low prices and remodeling them to
suit their needs. It's vital that homeowners know they might need Course of Construction
Insurance, also known as Builder's Risk Insurance, because there are so many construction projects
underway.

3. The property owner, contractor, or agent can purchase a
Course of Construction policy for any new construction or
remodel. It is not required by all states and local building
codes, but it may be necessary. A policy will also be
required if a homeowner takes out a loan to finance the
project. What coverage is included in this policy?

4. There are two types of policies
There are two major categories of policies: All Risk and
Specified peril. An All-Risk policy is more expensive but will
offer homeowners and contractors the best protection. It
covers all risks, except those that are specifically excluded by
the policy. A Specified Peril policy, on the other hand, covers
only the risks that are specifically outlined in it.

5. If an owner has a Specified Peril insurance that covers
damage caused by lightning, and the house is
damaged by it, then the damages would be covered.
The damages would not be covered if the lightening
caused a fire to spread to the building next door. The
policy did not specify fire protection and the peril (in
this case, lightening) was not to the dwelling. It struck
the next-door house. The homeowner would have
been covered by an All-Risk policy if the policy
excluded fire damage. All Risk policies provide a
wider range of coverage. The contractor should ask
homeowners if they are purchasing the policy.

6. What are the Risks?
There are many types of coverage, but the majority of
All Risk policies cover your project against fire, wind
and lightening, hail and theft, vandalism and other
types water damage. Owners can also request
extensions or additions to their policies. To protect
materials during transport or storage, you can
purchase a rider. A policy can also be extended to
cover flood and earthquake damage. Also covered are
lost labor hours. If someone damages property or
destroys materials, they can be reimbursed.

7. What Structures Are Included?
What happens if there is a dock, fence or pool house on the property? The policies only cover buildings and
structures that are involved in the construction project. The equipment attached to the dwelling is covered as
well, including boilers, furnaces, security, and electrical systems. Structures and fixtures that are not attached
are not covered. This includes walkways, fences pools sheds barns docks landscaping.

8. External Resources
https://www.accessinsurancecompany.net
www.accessinsurancecompany.net
accessinsurancecompany.net

9. Contact Us
866-925-1508
info@accessinsuranceco
mpany.net
New York

10. Thank You