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Building Your Home? Why Your Project Needs Building Insurance

Building Your Home? Why Your Project Needs Building Insurance

Make sure your dream home gets the attention and protection it needs by taking a building insurance policy.

Here is why it is important to have this type of insurance if you are building a home.

Insure Property Under Construction

A home insurance policy will only qualify the homeowner for protection of the property and its goods inside it once the building is complete.

Until then, in the construction phase, your soon-to-be home and any property on the building site are not insured. It is why building insurance comes in handy.

While your contractor may already be in possession of a building insurance policy, it does not mean that your home is properly covered in case of extensive damage.

It is recommended to opt for your building insurance policy to provide for all possible scenarios while the construction is in progress.

Protect Against Damage

Building insurance protects your home against damage and unexpected events caused during the construction process.

Damage to a property in the construction phase can be caused by leaking pressurised pipes, explosions, subsidence, fire, floods or hazardous acts of nature.

The policy provides temporary coverage during the building phase of a new property.

Building insurance is also suitable and recommended for a range of construction developments from major renovations to building extensions and remodeling projects.

Cover All Your Bases

Building insurance typically protects the homeowner’s construction against natural causes like fire, wind, water floods, hail, as well as damage caused by explosions, theft, and vandalism.

Building insurance does not cover personal property as with the typical home insurance because it only applies to the physical building under construction where there are no personal effects inside.

Mobus Property Ghana Ltd. is a privately-held Ghanaian property investment, development, and management company focusing on commercial and residential property development. 

Contact Mobus Property for more information.

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