Vacant & builders risk
Vacant condo and renovation (builders risk) insurance
Standard condo policies often limit coverage once a unit has been vacant for a set period, and renovation adds new exposures. Nymble places vacant-unit policies and builders risk for condo renovations and construction, for owners and associations.
Vacant units
- Between tenants, after an estate, or waiting to sell
- Vacancy clauses can limit theft, vandalism and water coverage
- Tell your agent when it became vacant and your plans
Builders risk
- Covers materials and work in progress
- Questions cover scope, budget, structural work, contractor and timeline
- Associations can insure larger projects, including repairs after inspections
Coverage depends on the policy, the insurance company and underwriting approval. Nothing here is a promise of coverage or price.
Common questions
Is a vacant condo covered by my HO-6?
Possibly only for a limited time. Check the vacancy clause.
Who buys builders risk?
It depends on the contract. Share it with your agent.