Considering Risk When Building Your Own Home

a house under construction with wooden framing
Considering Risk When Building Your Own Home

If you’re looking to build your own home, you’ll have to consider the risks associated each step of the way. While you’re picking out cabinets, paint, and carpet, be informed about the insurance policies you can choose that will help you manage the risks of building.

At Staples & Associates, we keep you covered through every step of the process. Be vigilant to check if the home builders have the right insurance. If they don’t, go get it for yourself and stay protected from liabilities. 

General Liability Insurance

General liabilities are exactly what they sound like. The blanket term means that the insurance covers claims resulting from normal business activities like property damage, injuries, defense costs, etc. The insurance cost is based on the specific needs of your operation. This includes risks and factors like the work being done, the location, and the number of workers. 

Although general liability insurance is most often used by small businesses, the building of your home can qualify for this coverage. Personal or commercial insurance policies can also be used to protect you against similar general liability risks.

Workers’ Compensation Insurance

Workers’ compensation covers a variety of costs associated with a worker’s injury or illness that they obtain on the job. Medical expenses, lost wages, ongoing treatment costs, and even funeral expenses fall under these policies. The risk of not having workers’ compensation is much more trouble than obtaining it. Oftentimes you are required to present proof of insurance before building permits will be granted or the fines for not having will put a dent in the budget for the home. 

Builder’s Risk Insurance

Builder’s risk insurance is a kind of property insurance that protects buildings while they are being constructed. Property damage covered usually includes fire, storm, theft, explosion, and vandalism damages. Materials, supplies, and equipment used during building can be covered as well. All individuals and companies involved in the construction should have builder’s risk insurance.


While it’s important to have these kinds of insurances upfront when the house is being built, the same risks can occur when renovations, additions, or alterations are made on your property. It’s good practice to contact your insurance agent well before any of these begin to make sure you’re protected. 

Staples & Associates is your one-stop shop for all of your insurance needs! Contact one of our agents today to get ready to build your dream home AND stay safe during the process.

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