Georgia Builders Risk

All Builder’s Risk policies are not the same.

Are you a builder with a Builders General Liability Policy?

• Zurich Builders Risk Policy (we have it)
• Model Home policy (we have it)

Are you an Investor buying to SELL?

• A Zurich policy may be the wrong policy UNLESS you have a G/L policy for your business.
• We also provide Vacant Home policies with a REHAB endorsement including Liability Coverage.

Personally Building your home?

• We have a great product for those personally constructing their home.  This policy DOES provide Liability coverage.

NOTE: There are times when our internal solutions do not meet the customer’s specific goals.  We have external contacts that can provide solutions  too. 

Give us a call, we can assist you in the effort to obtain the best solution for your immediate need.

1-877-MattLocke (628-8562)

Insurance for the Vacant home being Renovated

Have you ever purchased an insurance policy and find that you get a letter canceling coverage in 30 days due to the home NOT passing the inspection?  When purchasing a policy it is important communicate to your agent the intent of the structure.  What is your plan for the structure?

Many investors today are buying homes and rehabbing the structure to rent or to sell. When you purchase the policy the home has often times gone through a foreclosure and is boarded and needs attention.   Purchasing a traditional landlord or homeowner policy is often times the wrong fit for the insurance companies perspective.   Prior vacancy and/or current vacancy is an immediate turn-off for the traditional landlord or homeowner policy.

So, what is the right solution for the insurance need? To keep the home insured and to NOT run into cancellation issues, consider the purchase of a “vacant home / builders risk” type of policy.  We often refer to this type of policy as a “rehab policy”.

The Rehab policy is written to include vacancy and renovation risks. This type of policy is positioned for the vacancy, for the builders risk need, and we even include liability coverage.  More importantly, this coverage is quickly written for the land trust, LLC, or corporate owned home.

Don’t look to the normal captive agent for the unique coverage needs for the rehab insurance need.  Instead, look to GA Builders Risk and the rehab insurance insurance specialist.

Builders Risk policies are becoming a main-stay product in today’s foreclosure prone market.  Investors are buying and the need for insurance QUICK to cover the structure while the home is being renovated/cleaned/painted is key.

Many builders risk policies will provide for MUCH more than Fire coverage.   When looking for coverage, be on the lookout for insurance without Liability coverage.  Providing coverage for the stucture is important, but providing coverage for your personal liability is equally important.

Fully earned premium is also a pitfall of many policies.  Get a policy with the ability to covert to a tenant occupied landlord policy or a homeowner policy when you are READY while still getting a refund for the un-earned premium.

Submit an applicaiton to GA Builders Risk and you will find not only GREAT service but also coverage that meets 98% of the needs associated with the risk.

(Burglary coverage is the other 2% that is often times a missed coverage when dealing with a vacant home policy.)

So, we all need to pay our fair share of taxes… But this year has us all reviewing our expenses and cutting costs every where possible.

Vacant Lots and completed homes that are still for sale have possibly lost the value from 1 – 2 years ago.

I do not know of anyone that has not lost property value in the last year.  If you have the time to appeal your property taxes, you have until April 1st, 2009 to make your voice heard.

A popular website to help you through the process of appealing your property taxes is: www.GAPropertyTaxAppeal.com.

Start your process quickly and efficiently with the information from this site.

Paul “Matt Locke”