Builders Insurance

8 Replies

I am closing on a home in Anacortes with a construction loan and need builders insurance. Is this something that most agencies provide (like my homeowner's with State Farm), or am I looking at someone more specialized?

So then, I'm taking builder insurance recommendations in the Seattle Puget Sound area. Thanks.

Hi @Julie Marquez

There may be some local companies but any reputable companies will have it available.  I use Erie, for example, usually runs anywhere from 550-750.  Well worth the protection for both you and your lender.  

Good luck on your project!

@Julie Marquez if it's for a single family, it is a product every personal lines agent can provide.  No need for a specialized agent.  

@Julie Marquez What you need is a Builders Risk Policy. Mine was with Zurich when I built my house. Just ask your insurance agent and they should be able to get it for you or point you to someone who can.

@Julie Marquez

It's very different and about 3-4x the cost of regular landlord or homeowner policy.   Check with any broker.  Zurich or JH Ferguson is who I've used in past for major rehabs/new construction 

@John Weidner @Patrick Britton Thanks for the advice. I just want to shout out to Mosaic for being great to work with on this rehab insurance, and I'm willing to pass on their information to anyone else in the area looking for rehab construction insurance.

@Julie Marquez , do you know if Mosiac writes policies for new construction?  And if you don't mind could you please pass on their information for me? Thank you very much.

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