- An insurance policy purchased during the construction of a structure, or during an addition, a renovation or a conversion, to provide coverage for setbacks or problems involved in the construction project.
construction insurance, do-it-yourself insurance
Related Terms and Acronyms
- Completed Operations Insurance — Definition,
- Insurance that provides protection against liability after contractual obligations have ended.
- Completion Bond — Definition,
- Insurance purchased to make sure that an important project is completed, even if something unexpected happens, financial or otherwise.
- Contractor — Definition,
- One who constructs or oversees construction of a house or a large renovation.
- Someone that agrees to furnish materials or perform services at a specified price.
- Cost-plus Contract — Definition,
- An agreement in which a construction contractor receives a fee based on a percentage of all costs paid for labour and materials.
- Demolition Insurance — Definition,
- Insurance that covers demolition costs for an irreparably damaged building.
- Developer — Definition,
- To develop or create something.
- Companies that buy land and put up buildings for rent or sale.
- Insurance (insur) — Abbreviation,
- An arrangement where one party provides financial protection to another party for specific damages or losses.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
- Subcontractor — Definition,
- A person or company that does specialty work for a general contractor.