3 Kinds of Insurance Needed When Building

"Hi Carl,

I am considering being an owner/builder for an upcoming remodel and am confused about what kind of insurance I need to get. I know I need course of construction and liability insurance. Do I need to make sure all my subs have worker's comp and do I need to have them add me to their policies as additional insured and/or do I get my own worker's comp insurance?

Orli"Hi Orli,

You will need “Builders Risk” insurance. Builder's risk insurance is a special type of property insurance for houses while they are under construction that protects against loss. You can read all about “Builders Risk” on my “Construction Insurance ­ Builders Risk” page.

You will need “Title Insurance” to protect against liens and defects in title. You can read all about “Title insurance on my “Title Insurance” page.

Your “subcontractors” will need to be insured for both general liability and workman’s compensation. You can read all about “Subcontractor Insurance” on my “Subcontractor Insurance” page.

You cannot get your own workman’s comp, nor do you need it as you don’t have any employees since subcontractors are not considered employees.
Carl Heldmann, byoh.com