Building a home is an exciting process! Sifting through paint swatches, floor samples and dreaming up every room of your future home is any HGTV fan’s perfect day.
But, in the midst of all those Pinterest boards and Houzz idea books are the nitty gritty tasks the homeowner has to address before any shovels break ground. One of these confusing and at times overwhelming tasks is Builder’s Risk Insurance. When do you need it? What is it? How do you get it? Joyner homes has asked the experts at Wilkinson Insurance Agency, LLC. to help guide you through this process.
If this is your first time going through a construction process, you are probably wondering, what’s Builder’s Risk Insurance?
Builders Risk Insurance, sometimes referred to as Course of Construction is unique. It’s a form of insurance that covers a building where the building or insured area is currently being constructed. It protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment being used in the project should those items sustain direct physical loss or damage from a covered peril.
Most broad form policies will cover damage caused by a variety of perils such as; theft, vandalism, aircraft damage, fire, hail damage, explosions and damage caused by heavy winds. Of course, every policy also includes certain limitations and exclusions from coverage. These exclusions vary from carrier to carrier. Some common exclusions across policies and carriers are damages caused by intentional acts by the client or their builder, governmental actions, and damage caused by war. Other common exclusions may include damage caused by flood waters and earthquake damage.
It’s important to ask your insurance provider what perils are covered. This is not something you want to pick out based on price alone. If you are looking for the cheapest possible premium, you might be drawn to a “specified peril” policy; however, if a loss occurs and it wasn’t directly specified in the policy, you may be shocked to learn your home (under construction) wasn’t covered. An example of this would be a policy specifying that it covers damage from lightning strikes to the covered property. If lightning strikes a nearby building causing a fire that damages your construction project, this type of specified risk policy wouldn’t cover the losses because lightning didn’t strike the construction project itself. — Moral of the story— Ask lots of questions when choosing your policy!
Now you may asking yourself, who buys Builders Risk Insurance- You or your builder?
You purchase the policy, but it’s usually purchased by the custom builder or general contractor as well. This is often a required condition of many new home construction contracts. It’s much safer for the you (the property owner) to obtain the builder’s risk policy because of ownership in the building even while it’s under construction. You will need to purchase coverage for 100% of the anticipated construction costs. The construction costs are listed on your construction contract and your builder should be happy to answer any questions you have pertaining to that.
There are a few more questions to ask your carrier in regard to your Builder’s Risk Policy: What does it cover? Do I have to maintain this coverage as long as I live in this home? How does it all work?
If you choose Wilkinson Insurance Agency, LLC. as your provider, here are the answers to those questions:
What does it cover? The policy will pay for damages up to the coverage limit. – which should be the total construction cost listed on your construction contract.
Do I have to maintain this coverage as long as I live in this home? How does it all work? Coverage should be effective prior to the delivery of materials to the job site. Your builder should be able to provide you with these time frames. It can provide coverage for the structure only or also the materials on site waiting to be installed. Polices are often written in terms of three, six or twelve months. If the project is not completed by the end of the policy term, coverage can usually be extended. Coverage terminates at the closing of the sale of the building, occupancy, or the policy expiration date. After the Builder’s Risk Policy coverage ends, you will need to purchase property insurance in the form of a home owner’s policy or commercial property policy. Covered perils generally include, fire, wind (maybe limited in coastal areas), theft, lightning, hail, explosion, vandalism. Standard exclusions include, earthquake, employee theft, water damage, weather damage to property in the open, war, government action, and mechanical breakdown. Another important exclusion which should be noted is the damage resulting from faulty design, planning, workmanship, and materials. These types of issues would be addressed under a contractor’s Professional Liability policy rather than Builders risk.
Some Important Exclusions to remember when getting your policy through Wilkinson Insurance Agency, LLC. are:
*The policy will not cover property of others
*Sub-Contractors are required to have their own insurance
*There is no coverage for tool or equipment
*No coverage for professional liability
*It does not cover accidents at the job site
*Coverage typically ends when the building is completed or occupied.
Our goal at Joyner Homes is to make your building process as easy, comfortable and exciting as possible. We welcome questions and we will guide you every step of the way. We work with many reputable insurance providers and we will always do our best to connect you with who we feel will be the best fit for your project.
Wilkinson Insurance Agency, LLC. has been a great resource. Cheryl and Charla are very knowledgeable, friendly and timely. If you are looking for a carrier that has your best interest at heart and you don’t dread talking too, they are your best bet! They are also located in the Eastern Hancock School district. Click here to meet the Wilkinson Insurance Team! or call them at 765-781-6161.
Have you ever wondered what it’s like to be a designer? Meet Sandy!
Our Joyner Homes Designer. We have gathered together a few questions from our fans and asked Sandy! Keep reading to find out her answers, get great design tips, and to see what the design process with her is like.
The Kitchen, without a doubt. It’s the heart of the home and the 1 place I feel the balance of style & function is critical to getting it right.
I always ask if the client has a room or feature they are super excited about first – If they don’t, then we start in the kitchen. If they have something they are excited about, that is a great place to start. I can learn a lot about their style & put that to use helping them.
Some kitchen “trade secrets”:
a) Locating the microwave someplace other than over the range – Put the microwave in a base cabinet, off to the side in a wall cabinet
or even in the pantry. This allows you to use the hood area as a statement. That can mean a cool wood hood
or a simple hood and a fantastic tile accent.
It also allows people to utilize the microwave separately from the stovetop! Many hands make for lighter work, right? Much easier to use a range & microwave when not literally one over top of the other!
b) Bump cabinets forward slightly to add dimension. The up/down stagger isn’t as popular as it used to be, but you can still keep it interesting without a ton of added cost by pulling a few cabinets forward.
c) Add “Furniture” Details like Valances at a Sink Base
or corbels under wall cabinets to make cabinets feel more like the classic built-ins admired so much in historic homes.
2. What are your favorite and least favorite design trends right now?
Good question! I like how it ends with “now” because trends can be fickle.
I would say my favorite is probably the warm, earthy & collected feel that is so popular as an overall design style.
Whether you like it expressed in mid-century
or rustic farmhouse.
The relaxed style appeals to me – I never want people to feel like they can’t live in their homes. That’s what they’re for! Make memories & enjoy your spaces!
My least favorite is the color trend back to jewel tones.
Maybe because I lived through it before & that makes me feel old, but I’m just not a fan. I can admire it. There are some lovely applications
but beware of jumping on board unless you like to paint! These are “making the rounds”, not here to stay.
3. What is the hardest room to decorate?
Besides any room in my own home? I love so many styles, it makes it really hard to decide! OK – for real, decorating is probably most difficult in the areas with Televisions
…we have a real love/hate relationship with them. Love to watch them, hate to see them.
Some of my favorite ways to “deal” with them would be:
a) Recess them & be able to close doors when not in use
b) I love them hidden behind mirrors/paintings. You may think, that’s not really cost effective…not an option for most people, but check it out! There are some options out there that are really not bad!
c) Kind of a spin on the hiding it behind art, would be using the much loved barn door sliding concept. Uncover for use…Am I the only one who wonders about having the doors on a remote?
Oooh – I love color, it’s probably my favorite design element – pattern is a close second 🙂
Neutral can mean lots of things – even deep color tones can still be neutral. Try varying the depth of the same color throughout your home to add interest.
If you find a color that draws you in but it’s too “dark” for you, find it in the paint company’s spectrum & just “go up the strip” a little.
One of the web-sites I can truly lose myself in when it comes to color & combinations is www.design-seeds.com
You can also use a favorite pattern on fabric (even clothing),
or for that matter – anything – dishes, rugs, stationary, jewelry – there is no rule about what inspires you! Does anyone remember the TV show where the girl would do a color wheel based on the interests of her clients? I loved that! If they liked to cook, she would use food. If they liked the outdoors, she would use items like grass & pinecones…If you find you’re consistently attracted to it then go for it!
5. Painted cabinets are in right now. Do I need a specialist to do my stained cabinets a pale grey?
You might be tempted to DIY this. I know I am! BUT, put the paint brush down & think through these questions.
a) What kind of condition are the cabinets in? If they are pretty worn out then you could be throwing away a lot of time, energy, money, etc. to put “lipstick on a pig”
b) Is the layout just like you want it, only the finish is the “problem”? If they pass the condition question, then think about the layout…again, do you like it enough to invest in keeping it?
c) Still like the idea? Are you wired to dig into ONE project and see it through until completion – there are a ton of steps to doing this correctly – that’s why it isn’t cheap to have someone else do it. How much time & energy do you have to devote to this?
d) Don’t rule out new cabinets until you talk to a professional – it might surprise you! How angry would you be if you spent your time, money or both and then found out your friend just got new and it was comparable in price?!?!?
6. How can you tell if something is going to be a short lived trend or style that will stick around for a while?
That’s tough…In my opinion, it relates to how classic the trend is to start with.
I think the things that are tied more to a way of life, a feeling they invoke, are more likely to stick around. Like barn wood floors,
or subway backsplashes…
these aren’t just part of a style. They remind us of a time when things weren’t as disposable as the world we live in today. When a mans word was his handshake & craftsmanship was valued above quantity. Is this getting too deep? 😉
It can be frightening to decide how far we get into a trend – If you are investing in something on the higher end – like a quality sofa, new flooring for a large area, or new Natural Stone countertops…I would stay with classic lines & neutral colors.
Take advantage of the fun & flirty trends with things like pillows, accessories of all kinds, or inexpensive curtain panels. Things that you can change out when you are tired of them.
7. What is your favorite style?
I honestly don’t have a favorite. I think that’s why I love what I do for a living. I get to live vicariously through our clients.
Check out my Pinterest or Houzz accounts and you’ll see what I mean! It’s a little modern, farmhouse, craftsman….
8. How do you help your clients find the right styles for their homes?
I let the design choices they’ve already made for the home & their lifestyle dictate my recommendations on their home. I think that is crucial to a well-designed new home. They have already put a lot of thought into the overall plan. If they want it to be open so they can see young children in several areas of the home from the kitchen; if they want a tricked out mudroom for all their dogs… I need to be considerate of those decisions. I try to think of it as a cake that’s already been baked & I’m recommending the best icing to complement the flavor.
In general, a person’s style is often highly impacted by their lifestyle. Do they entertain a lot? Do they love to read? Are they fitness fanatics? Once you understand their needs you are qualified to discuss how you can help them achieve their design goals. My job is 2 parts discovery & 1 part design.
I do ask if people have used Pinterest or Houzz to capture their ideas. If you want to clearly communicate a style, a pictures worth a thousand words is VERY true! Use any tools at your disposal to be sure you & your designer are on the same page.
9. What has been your favorite project/room/piece you’ve designed so far in your career?
I think I would have to say the home on Fortville Pike.
The homeowners were not timid about designing something more modern than most of our homes. The home was a fantastic blend of durable, simple finishes and splashes of contemporary glamour. It fit the family dynamic perfectly…stylish & cool parents with energetic young boys. Some of my favorite components of the design were Natural Cedar stain on the exterior with the deep blue paint, the Brushed Bronze fixtures in the kitchen, the Owner’s Shower, & the Powder Room.
10. What advice would you give to clients in the home building process when it comes to designing their home?
I would advise transparency. The entire process, from start to finish, works best if everyone is fully candid. Building a home is normally the largest investment people make in their lives. Even if there were never a single thing to discuss after signing the initial agreement, there is a ton of stress involved. Trust is essential – make sure you are talking to your significant other, your builder, your designer, your superintendent. Sometimes we have to have difficult conversations about how to balance choices, or a desired option that simply doesn’t work in a layout. A foundation of trust with each other is what makes it work.
If you were in the mood for spring before reading this post, you’ll definitely be in the mood after you do! The Starlight features bright and cheery color choices as well as many character rich features. Check out these final photos!
This family chose shades of green for their exterior color choice. It really pops next to the light stone. The Starlight is definitely eye catching!
And check out the garage space!
Lets make our way to the kitchen. Cabinets, cabinets and more cabinets! The storage space in this kitchen is amazing!
This space will be great for entertaining. The open flow from the kitchen to the great room will give guests plenty of room to visit and relax.
As you can see, the exterior color of the home carries through to the kitchen with this beautiful back splash.
The natural light, stone and wall colors keep this room feeling very open and airy.
The dark mantle against the light stone really makes this fireplace a great focal point.
Don’t you love the built ins and being able to see the great room from the loft area above it? You’ll also notice the arches in the built ins that tie to the arched entries throughout the house.
This is a beautiful entry from all angles. Lots of natural light from the large windows and again you’ll notice the arched entry way that adds so much character to this space.
The tray is ceiling in this room is a nice added touch.
Look at this bathroom! It has nice clean lines and the chandelier looks great!
Isn’t the waterfall tile design cool!
Spring has sprung in the cheery blue powder room.
These dark stained cubbies really grab your attention next to the light gray walls and white doors.
This loft space makes for a great play room or kids space.
Don’t you love the vintage looking door knobs? This hallway looks so clean and bright.
This wall color makes me think of the beach!
This garage is huge! It has lots of closet space on top of car space!
This back porch space is beautiful! The beams look amazing!
And that view! What a great place to relax!
This family was a pleasure to work with! They made great design choices and we love that they chose to go bold with some of their color choices! We are so glad you chose Joyner Homes as your builder.