E&S Insurance for Homes Under Construction or Renovation

Highlights of PURE Programs coverage include:

Flexible Policy Terms Align with Project Duration

Flexible terms allow a customer’s policy to match the project duration; from short-term projects that take 3, 6 or 9 months to more complex, long-term projects that take 1-4 years to complete. If the project is delayed, we offer policy term extensions with premium prorated to the completion date.

Replacement Cost Coverage

We will pay the reconstruction cost up to the coverage limit for both existing property and property under construction, with no reduction for depreciation, when the home is repaired or rebuilt.

Broad Policy Contract with Specialized Coverage Options

We provide coverage for back-up of sewers and drains; soft costs; property on site as well as in transit; scaffolding and other temporary structures; expediting expenses; pollutant clean-up and removal; and reward coverage.

We also offer coverages to address the unique exposures of construction risks. For example, an optional coverage is available to offset costs such as interest on construction loans, real estate taxes and permit fees that result from a covered loss delaying the completion of the home. 

Hurricane, Wind, Wildfire & Earthquake Coverage 

We provide coverage for Hurricane and Wind damage (can be excluded in Florida and Hawaii upon request), with the option to add coverage for Earthquake. For locations in California and the western states that have a higher wildfire risk, we will provide recommendations during construction to help customers build homes that are more resilient to wildfire loss. 

Personal Liability Coverage 

We offer the option to include personal liability coverage for the homeowner, removing the need to purchase liability coverage separately.

Expert Advice to Build Resiliency 

Customers have access to a dedicated Resilient Home Advisor who will provide advice to help strengthen their home during the construction project and for years to come. The Advisor will coordinate inspections at key construction phases for multi-year, complex projects and review the inspections for insurance-to-value, taking mid-project work orders and budget changes into consideration to ensure the project is properly covered.

 

A Better Broker Experience:

A Dedicated Course of Construction Underwriter 

Your PURE Programs Course of Construction Underwriter will support you as your key point of contact for high value renovation and ground-up risk countrywide. They’ll work closely with your PURE or PURE Programs underwriter to ensure a smooth handoff once the construction project is complete. You will receive automated reminders 1-month, 1-week, and 1-day prior to expiration and your COC Underwriter will proactively quote policy extensions for you. 

True Quarterly, Online Billing 

We bill all new business, policy extensions and endorsements directly to customers and file taxes and fees on your behalf. Policy premium can be paid online and is billed quarterly across the duration of the project. This means a 24-month project will receive 8 quarterly bills spread across the policy term. 

Online Quoting 

Quote projects online and refer directly to your COC Underwriter with easy-to-navigate fields that capture project and contractor information (eliminating the need for separate COC Questionnaires and Applications) and allow for upload of construction agreements and CGL certificates. 

Pricing that is Aligned with Risk 

Stages of construction that have a lower total insured value, such as the foundation and sitework stage, are priced into the project premium reflected on the policy. This eliminates the need for “stepping” limits up by endorsement and ensures that the project is insured to completed value from inception, while also reflecting fair and technical pricing. CAT exposed locations are priced according to the actual risk within the policy term based on monthly seasonality factors.