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Insurance Insights

What is Builders' Risk Coverage?

Builders' Risk Insurance Explained

If you are renovating or under construction at your home, it is important to have Builders' Risk coverage to protect against damage to the building(s) during the process.  Builders' Risk insurance is usually bought by the owner of the building or the land.  Occasionally, the general contractor will buy it instead if it is stated as requirement the contract - then the costs may be passed on to the client.  

[READ MORE] to learn about why it is important that you or your contractor has a builders' risk policy when remodeling or building your home from our partners at Chubb.

For more information about Builders' Risk coverage, contact Rand Insurance at (203) 637-1006 and one of our team members will be happy to talk with you about your needs.

Home Under Construction

by Meredith Bach  | 

Protecting You and Your College Student

Insurance Considerations When Your Child is Away at College

The new school year is about to begin and as you are sending your child off to college, it's a good time to take a look at your insurance and make sure you and your student are properly protected.

Here are a few suggestions on what to consider as well as ways to save on your premium when you make a few minor changes to your policy.

For more information, call Rand at (203) 637-1006.

College student and parent on campus

by Meredith Bach  | 

Replacement Cost vs. Market Value

What is Full Replacement Value

Front Door
One of the biggest questions consumers have regarding homeowner's insurance revolves around the amount of insurance to have on their home. Many assume the amount of dwelling coverage will be equal to the amount they paid for their house. That is not always the case.

There are different methods to determine the value of a house. Market value is the price paid for your house. Replacement cost is the price or cost it will take to rebuild your house in the same spot, same size and same quality of construction, at today's costs.

Insurance carriers insure homes for full replacement value, not the current market value.

Please check out this article for more insight and become better educated on homeowner's guaranteed replacement coverage.

For more information, call us at 203-637-1006 and we will connect with one of our advisors.

Posted 7/16/2019

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