What homeowners insurance am I eligible for when renovating my home?

Is there a type of insurance I can get during renovation? I took out a loan to renovate my home. My previous homeowners insurance canceled due to the construction. I'm required to have homeowners insurance.

Answer
“If your current insurance company wasn’t aware that the home was going to be under construction when you signed your agreement or you didn’t inform them in advance, this is likely why your policy was cancelled.
Most insurance companies do have clauses or endorsements you can add to policies for things like construction; however, insurance companies need to be informed.
If you signed an agreement and didn’t mention the construction on the home, they can legally cancel your policy.
You should be able to reach out to other homeowners insurance companies for coverage.
You’ll need to inform them that you’re renovating your home. They’ll be able to ensure you have the proper coverage on your policy to meet your loan agreement and also protect your home.”
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Emily Maracle
Answered on Jul 19, 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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