Planning to build a new home is an exciting time. Whether you’ve been planning your build for years or are taking advantage of a sudden opportunity, it’s important to think about the potential risks your build might face – including long term insurability.


 Are you building in a high-risk area?

Ocean and lakefront views are one of the highlights of a new build-on waterfront property, as are the beautiful mountain views of many wildfire-prone areas. Natural disasters have not only increased in frequency but also in cost over the past 5 years, and insurance companies have tightened underwriting guidelines in response. We expect this trend to continue.


What does this mean for you?

Plan not only to absorb more risk on the property by increasing your deductibles, but also note the double-digit increases many homeowners are facing when you budget.  We are happy to provide cost estimates to our clients as a courtesy prior to starting construction.


How can you get better rates?

Consider insurability before construction begins, while drawing up plans with your builder or architect. We can advise you on current and expected underwriting guidelines to maximize discounts on your policy AND make sure carriers want to write your home. As underwriters become increasingly selective in high-risk areas, let us help you make your home attractive to multiple carriers.

Note the best contracts and pricing for high-risk areas are only available when we have the opportunity to review your entire personal lines portfolio, including cars, collections, liability, and other properties you own.


Do you have the right insurance for the construction phase?

Building your own home requires a specific type of insurance, called Builder’s Risk.  This insurance covers the risks associated with constructing a house, from injury risks to workers, theft of building materials, and many other situations unique to custom-built homes. It is imperative to place coverage before construction begins as many providers will not offer a quote if work is underway.


…not just for high-risk builds

The team at Odell Studner can ensure you have the insurance protection you need for your entire personal insurance portfolio. Contact us today to learn more.