Christopher B asked:
Who has the best house insurance policy to cover the house, and the construction work that needs to be done on a rehab job?
Who has the best house insurance policy to cover the house, and the construction work that needs to be done on a rehab job?
I heard some company name Zenith(?), or something like that, is awesome. Anyone know more about them?
10 points to anyone who can tell me more about Zenith(???) and/or recommend the best rehab insurance companies.
Tags: Construction Work, Insurance, Insurance Companies, Insurance Policy, Rehabbers
The only Zenith Insurance I know is a big workers comp insurance company, but that is not what you need.
If you’re hiring a licensed contractor, demand that the contractor have a payment bond or contract bond to ensure job completion and that they pay all labor and materials so anyone who works on your property or supplies material for your project will be unable to file a lien on your property. The contractor will just roll the cost of the insurance into the price of their bid to work on your property though, so basically you’re paying for it.
Your home owners insurance will cover the house, but you have to pretend the house will be occupied otherwise they won’t cover it. If the contractor has general liability will cover any damage that they may cause to your house.