why builders risk insurance..........

and not regular home insurance. After all my contractors are through with the work that is needed on my rehab then I will have to drop my builders insurance and then get regular home owners while it sits on the market. Doesn’t homeowner insurance cover theft, fire, and cover my contractors behinds with the liability coverage? It seems that I would be paying for two insurances instead of just getting one. Any thoughts?


I had a loan that required builders risk insurance, with Indymac. I spoke with them about getting homeowners insurance which covered those same things. They agreed in the end to let me use regular h.o. insurance, which was great because the builders risk was over $3000.00 the H.O. was $949.00. Speak to the loan officer and explain that it covers the same things.