Whether you are renovating your home, custom building a new one or building a neighbourhood, there are inherent risks that are unique to construction sites.

Sometimes your home insurance company will not insure your home if you undertake major renovations. While renovating the interior is usually acceptable, major structural changes may result in the cancelling of your policy.

Here are your options:

a) some insurers will endorse the existing policy and charge extra premium for the risk (if you can do this – GREAT!)

b) obtain builder’s risk Insurance: This is not as cheap as home owner’s insurance but it is what is needed for the high risk task of constructing extensions or teardowns.

Example: $400,000 home value with $2,000,000 liability insurance and a 6 month completion time (within an urban area) will cost approximately $1,840 plus 8% tax.

Call us today for your individual quote. Quick quotes, quick turn around available.

Claudio: (416) 862-5605 or email info@insurancehelp.ca

Insurance Help Canada www.insurancehelp.ca – Professional insurance advice. Straight answers that will make you feel comfortable doing business with us.

Coming soon: Insurance Help Canada Risk Management and Insurance Consulting Services