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Burns & Hansen, PA

Should I have insurance when my house is under construction?

A home is a major investment for most Minnesota families. For that reason, they carefully select insurance policies that protect not only the structures that they live in but also the possessions they keep inside of those houses. It seems, from this perspective, that home owners may only need an insurance policy for when the home is completed and they have moved into it. However, having a home insurance policy during the construction phase of a house building project can provide important financial protections for the future occupants of the structure.

For example, if during the building process a worker on a construction crew is injured, that individual may seek compensation from the home owner. If the home owner does not have insurance to protect the person from such liability, the homeowners may face a heavy financial obligation if a court adjudicates against the person in a personal injury-based lawsuit. The same can hold true if a non-worker is hurt on the property during the home construction process; home insurance can even protect home owners from claims made by trespassers on the property.

Additionally, home insurance can protect an under construction structure from catastrophic loss. Accidents at work sites can cause fires, floods and other disasters that can render structures uninhabitable or completely destroyed. If homeowners do not have insurance to protect themselves from such major losses they may not be able to rebuild the home or satisfy construction-related debts.

In sum, having a home insurance policy during the construction phase of a building project is generally a good idea. Different policies provide different forms of coverage and individuals who are looking for insurance should be careful to read their prospective policies carefully. However, anyone with more questions about home insurance and construction-based litigation may always contact real estate lawyers in their area to learn more about protecting themselves against accident and building-related claims.

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Burns & Hansen, PA

8401 Wayzata Blvd Suite 300
Minneapolis, MN 55426

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