Home Insurance When Building a New Home

Building a new home in Texas is an exciting journey, but it also comes with unique financial risks and responsibilities. As you plan your dream home, it’s important to consider how insurance can help cover your investment from the very start. At Wood Insurance Agency, our team is here to help you understand your coverage options so that your home is well-insured throughout the construction process.

Understanding Insurance During Construction

When you’re building a new home, standard homeowners insurance typically doesn’t apply until construction is complete and you move in. Instead, you may need specialized coverage known as builders risk insurance.

Key Features of Builders Risk Insurance

This type of policy is designed to insure your home while it’s being built and financially protect against many common incidents and potential losses. Specifically, your insurance may assist in the following ways:

• Covers structures, materials, key documents and equipment on-site during construction
• May include coverage against damage from fire, wind, hail, theft and vandalism
• Can be tailored to cover additional risks, such as materials in transit

Why Insurance Matters During Construction

Unexpected events can happen at any stage of the building process. Without the right insurance, you could face significant financial setbacks if materials are stolen, a storm damages the unfinished structure or an accident occurs on-site. Securing builders risk insurance helps safeguard your investment and keeps your project on track.

Transitioning to Homeowners Insurance

Once construction is finished and you’re ready to move in, you’ll need to switch to a standard homeowners insurance policy. This typically includes coverage for your new home and personal belongings and offers liability protection. Our team can help you make a smooth transition so that your new home is fully insured from day one.

How We Help Texas Homeowners

At Wood Insurance Agency, we guide Texas residents through every step of the insurance process for new home construction. We’ll help you assess your risks and find a policy that fits your needs and budget. Our local expertise means we understand the unique challenges of building in Texas, from weather risks to local regulations.

Contact us today to discuss your construction insurance options and get personalized guidance for your project.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.