Can you get home insurance through the company building your home?

The company building our home is offering home insurance. It's a better rate than what other companies are offering. Is there a reason why we couldn't get insurance with them?

“If the company building your home offers you home insurance, it’s likely builder’s risk insurance.
This type of insurance is separate from a standard home insurance policy. With builder’s risk insurance, any structure or building materials on the building site or materials off-site are covered.
Builder’s risk insurance is typically a set time frame and dollar amount. Your coverage limit would represent the cost of construction and materials. The length of the policy will be the estimated amount of time to complete the project. The policy term is usually between three and twelve months but could vary depending on the estimated completion time.
You’ll want to reach out to your building company to confirm the cost and what is covered. If it’s a builder’s risk policy, you may still require additional home insurance.
Many insurance companies offer builder’s risk insurance as an endorsement. Before committing to insurance through your builder, look into other companies. If you currently have car insurance, you reach out to your provider as you could get a discount for multiple policies.
If your car insurance company doesn’t offer bundling or home insurance, you may want to switch to a company that does to save more cash. Conduct some research on bundling and what companies offer it. Then, hop on the Jerry app to compare car insurance quotes and add home insurance afterward.”
Emily Maracle
Answered on Sep 09, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.

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