Building a custom home is a significant undertaking, and the owner carries real liability exposure throughout construction and long after move-in. Owner’s Interest provides the homeowner-as-project-owner with dedicated coverage rather than leaving them reliant on the builder’s policy alone.
Why custom-home owners consider it
Custom homes often involve substantial budgets, specialized trades, and a long relationship with a single builder. If a construction-defect or injury claim surfaces after completion, the builder’s coverage may have eroded or lapsed. Owner’s Interest includes completed operations, addressing exactly that long-tail exposure. Coverage is available for high-value residential projects, with limits up to $10MM and completed-operations protection running up to 10 years or the statute of repose. As with any project, terms depend on the specifics and are governed solely by the terms of the issued policy.
For how this compares to relying on the builder’s policy, see Owner’s Interest vs additional-insured status.