Homeowner's Insurance during residential construction?

[Tonesky 1059]

TLDR, Liberty Mutual wants to fuck me out of $1,500.

So, Harvey plus 33 months and it looks like we are finally going to rebuild....  Per the contract, the builder will have Builder's Risk for all insurable losses.  He will also have liability coverage, but per our contract it does not cover me or my invitees (architect, designer, Surly drunks).  And, the contract requires me to indemnify the builder for any claims/suits against him by my relations and invitees.  And, even for things that fall on him per our contract, nothing says I will not also be sued (we already own the dirt).  So, I want liability coverage.  We have a renter's policy and an umbrella.  My umbrella only requires that I have $100K of underlying coverage.  But, LM says the only thing they have to offer is a Builder's Risk policy for a minimum of $400K property value and $100K liability, with an annual premium of $1,527.

Anyone know if it is possible for me to just get a $100K liability policy, without duplicating the Builder's Risk already carried by the builder?

Edited May 21, 2020 by Tonesky

[UTPhil2006 3930]

@C-Man should be able to assist

[C-Man 27779]

18 hours ago, Tonesky said:

TLDR, Liberty Mutual wants to fuck me out of $1,500.

So, Harvey plus 33 months and it looks like we are finally going to rebuild....  Per the contract, the builder will have Builder's Risk for all insurable losses.  He will also have liability coverage, but per our contract it does not cover me or my invitees (architect, designer, Surly drunks).  And, the contract requires me to indemnify the builder for any claims/suits against him by my relations and invitees.  And, even for things that fall on him per our contract, nothing says I will not also be sued (we already own the dirt).  So, I want liability coverage.  We have a renter's policy and an umbrella.  My umbrella only requires that I have $100K of underlying coverage.  But, LM says the only thing they have to offer is a Builder's Risk policy for a minimum of $400K property value and $100K liability, with an annual premium of $1,527.

Anyone know if it is possible for me to just get a $100K liability policy, without duplicating the Builder's Risk already carried by the builder?

Should be simple enough. Doing this (sort of) for a client who is building four homes in Tyler -- contractor has builder's risk and we put together a policy to cover our client for liability only.

You'll want to review your umbrella policy language. It is possible this type of exposure would not be covered by the umbrella policy based on the builder's risk component.

The simplest solution is to be added as an additional insured to the contractor's builder's risk and GL policies if at all possible.

Edited May 22, 2020 by C-Man

[ROFL BOX 6655]

Why not tell Limu Emu to piss up a rope & have C-man write a policy for you?

 

Keep it in the Shag² family when possible.

 

Sent from my SM-G950U1 using Tapatalk

 

 

 

 

[Tonesky 1059]

On 5/22/2020 at 12:19 PM, C-Man said:

The simplest solution is to be added as an additional insured to the contractor's builder's risk and GL policies if at all possible.

 But, would that trump the contact language that releases him from liability for claims through my universe and requires me to indemnify him for any such claims.  I’ve gotten a lot of language modifications out of him, including removing the arbitration clause,, but he has pretty much said no mas. 

Edited May 25, 2020 by Tonesky

[williemackgarza 1826]

Doesnt the builder work for you? Why would the contract show you covering him?
Most of our (contractor) contracts make us add the owner and his designer as additional insured on our policy.