Several insurances are recommended, so that you are prepared for the eventuality. As a builder, you need a builder's liability insurance during the construction phase. Because if someone is harmed on your construction site, you are liable. Construction performance insurance protects you from damage caused by theft, burglary, lightning and other destruction during the construction period.
Residential building insurance protects you against damage caused to your property by fire, water or storm. For owners and landlords, home and landowner liability are a must. It regulates damages if someone has an accident on your property, for example. What’s equally important: household insurance for damage to furniture and household goods. Often, this insurance also applies in the event of theft.