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Because log homes require specialized construction, they’ll be able to provide you with the right insurance for your log home. However, finding an insurer that specializes in insuring log homes can be difficult. Before you buy your insurance policy, it’s best to understand how log homes are insured. Many insurance companies provide policies with preset limits, such as $50,000 for detached structures, $350,000 for personal property, and $100,000 for additional living expenses.
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Log and Timber Home Producers
With construction behind you, you’ll need to begin regular home owner’s insurance on your new log home. For years, one of the common myths about log homes was that they were difficult to insure. Today, knowledgeable insurers understand the choice to use log construction should have little impact on a home owner’s ability to obtain insurance.
Because log and timber homes are a niche market, you should shop carefully for a policy that meets your needs. Here are come common questions and answers to ensure you are an educated insurance shopper. Fortunately, in the grand scheme of things, the cost of insurance is a bargain compared to what it provides — peace of mind that your home will be made new again if it is damaged or destroyed. That same kind of peace of mind comes standard when you buy from a member of the Log and Timber Homes Council.
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Houzz Pro makes software designed to make running your business easier. Other things to consider when choosing a provider are whether you can contact them directly if you need to and whether they take a while to connect to on the phone or are just online-based. You’ll definitely want to cover the cost of your home and the contents inside.
Some companies specialize in writing policies specifically for log homes, while others cater to rural areas. If you can’t find a specific company to handle your insurance needs, you can contact a small company that specializes in log homes. If you’re unsure of where to begin your search, talk to friends and neighbors who have log homes. By doing so, you’ll get a better idea of which insurers are able to provide the best coverage for your log home.
Log Home Insurance Tips
However, if done correctly, it can reduce the cost of restoration in the future. The best way to extend the life of a log home’s stain is to follow the instructions of the professional restoring it. Make sure you only take out insurance cover for what you need to be covered for; this may bring your premiums down. Before applying for log cabin insurance, make sure your home is as secure as it can be. Ensure that you have a burglar alarm fitted and that all doors and windows have locks fitted.
Even if log homes are fire resistant, the raw lumber used in building them increases the costs of construction and rebuilding. Insurance companies consider these factors when deciding whether to insure certain types of homes, so you should also make sure you have enough information before you sign up for coverage. There are several reasons why insurance companies charge higher premiums for log homes. Many log cabin owners live far from the nearest fire station and fire department. These homes are also considered higher-risk since they aren’t occupied and are therefore more vulnerable to fire, burglary, and pest infestation.
Be wary of fire damage
In addition to this, log home owners should consider the age and location of their log homes. The premiums for a builder’s risk policy should be fairly reasonable, Alexander says, because the insurer isn’t carrying the risk of a home at full value. Builder’s risk insurance purchased by the home owner is different than the insurance carried by builders and general contractors. Typically, a professional builder carries insurance to cover his or her staff and workers.
However, if you don’t know much about log homes, you may want to consider getting insurance from an independent agent. These agents are not tied to any one insurance company and will be more likely to understand the risks involved and tailor a policy that will fit your needs. While log cabins are fire-resistant, raw lumber can increase the cost of a log home and the materials needed to rebuild it.
Insuring these homes can be a challenge if you don’t have heat, water, or cooking facilities. If you’re considering building a log home, you’ll need to shop around to get the best possible deal. Because log homes are made of expensive timber and lumber, their insurance rates are typically higher than those of typical homes. Because log homes are often built in remote areas, fire departments may have difficulty reaching them.
The fact of the matter is… log homes are more expensive to insure for a number of reasons. After the home is built, our annual homeowner’s insurance rate would be pretty much the same, less the “builder’s risk” part… a savings of about $150 a year. Learn what type of insurance you'll need to cover your log home from construction to completion.
You may need to carry as much as twice the value of your assets in this type of insurance. That doesn’t mean you’re out of luck – there are some companies who will insure you and some who even specialize in log cabins. With these companies comes some separate issues in the insurance process that you will need to be aware of.
Log homes are often built in remote and wooded areas, where fire departments are not available. Because of the high risk of fire, they can be more difficult to reach, requiring more time to extinguish a blaze. However, even in the most remote places, there are still volunteer fire departments in those areas. Therefore, you need to make sure that your insurance policy covers the value of your log home after a fire. Just as with the construction of a conventional home, your new log and timber home will need insurance before, during and after construction.
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