Manitoba Builders Risk Insurance

If you are considering building your beautiful new home yourself, you are exposed to many perils which are covered differently than if you lived in the home. For example, if the partly built home is vandalized or if materials are stolen, there is usually no coverage. This exposure requires a special coverage be arranged, a Builders Risk Insurance policy for the Home under Construction.

This policy should be purchased by the homeowner prior to construction and the project is insured for the full value of the dwelling. If the contractor is responsible for insurance, they can purchase a special Course of Construction Insurance (COC) policy.

Should the homeowner be arranging coverage for their new home, they can purchase a Manitoba Homeowners policy for the Home under Construction. The great thing about this policy is that it affords the same good coverages and discounts as if you were already occupying the home. The excluded perils of water damage, vandalism and glass breakage normally excluded on vacant homes or homes under construction, are included on a standard Homeowners Insurance policy.

Builders Risk Insurance Costs Less Than You Think!

At Pembina Insurance Services we aim to protect all that is important to you, while it is being constructed. We consider the details of the house and the costs to replace the finished building. In this way, we are able to insure it properly from the start.

We are also able to add the new home discount (because it is a brand new building) and, if you qualify, the no claims and age discounts and the mortgage free discount are added.

As well, contents or personal property will be insured where you are temporarily residing and/or in storage during the construction period. This is automatically covered,at no extra cost, under the Homeowners policy.

Pembina Insurance Services – Your Manitoba Course of Construction Insurance Experts

The insurance policy for homes under construction can also include special liability coverages. Whether you are acting as the General Contractor and hiring sub-trades, or having the General Contractor do the work for you, your liability exposure can be protected by extending liability to cover these things. A Comprehensive Personal Liability extension or a Residence Construction Liability extension is provided at a very nominal cost.

Pembina Insurance Services has been protecting new homes under construction since 1979. Whether you are building in a Winnipeg subdivision, or a bedroom community development, we can find the right Course of Construction Insurance policy for you.

Call us at 204-452-4913 or e-mail us and we will provide you with a quote for your home construction project.