Remodelers Insurance

The remodelers policy covers renovations and improvements to most residential and commercial structures. Coverage can be provided for the value of the renovations and improvements only and can be provided for the existing structure. Following are just a few of the valuable features offered:

  • Rate, quote, issue, and manage policies online from any browser, device or monitor size

  • Available nationwide on an admitted basis

  • Innovative coverage options designed with the needs of contractors in mind; many are automatically included with the option to increase limits

  • Short-term policies available on a single structure basis

  • Change order endorsement, covering increases in the cost of labor and materials or changes in construction specifications, is available

  • Direct access to our dedicated team of more than 50 specialists

  • Direct billing with premium payment installment options

The Remodelers program allows most all types of renovations and improvement projects, including structural changes. Our remodeling coverage options are divided into the following three eligibility categories.

  • Basic Remodeling - remodeling of interior finishes, replacement of interior fixtures, cabinets, flooring, etc. (no changes made to the exterior structure)

  • Minor Structural Remodeling - remodeling work as listed above, which includes minor changes to the exterior structure, such as doors, windows, skylights, and non-structural changes like HVAC, plumbing and electrical

  • Restructuring - remodeling work that includes repair, replacement or removal of any load bearing walls or foundation or the addition of stories, stairways and elevators. These risks will require scope of construction documentation and a structural engineering report to be submitted to underwriting for consideration.

Basic eligibility guidelines

  • Remodelers insurance may be written for contractors, owners who act as investors and owners who purchased the structure for primary residence

  • The remodeler is required to demonstrate two years of experience as a remodeler or as an acting general contractor overseeing a remodeling project

  • Improvements or renovation must represent 20 percent or more of the existing structure value in order for existing structure coverage to be included

  • All policies are issued on a single structure basis

  • Occupancy is allowed if the structure is occupied by the owner, who is qualified and performing the renovations

  • Non-coastal structures up to 75 years old and coastal structures not more than 40 years old are eligible

  • Existing structure coverage is on an actual cash value basis

  • If 60 consecutive days pass with no work performed to the structure, coverage can be denied or limited

  • Coinsurance applies to the policy

  • Six, nine and twelve-month policy options are available; policies can each be extended with underwriting approval

Basic underwriting approval required for:

  • Non-coastal structures more than 75 years old and coastal structures more than 40 years old

  • Structural changes

  • Fire restoration properties

  • Historical structures; if the project is required to work or comply to historical society requirements, the risk is ineligible

  • Values greater than $1 million located in protection classes 9 or 10

  • Values greater than $1.5 million located in protection classes 1 through 8