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cat's eye

It's a scary thing when you're relaxing at home and suddenly smell smoke

I was hoping to catch up on your LJ posts last night, but this little event took out our internet:



That's the view from the back of my apartment. The shot in the middle is of the embers as they fly over MY apartment building. That was really scary. It was a building under construction, really close to being done, so no one lived there. But with the mountain and bay views that home had (or was about to have when it finished), it was worth at least $700,000 to a million dollars. Which made me wonder, do builders insure their buildings while they are still under construction?

Comments

Yes they do if they are smart. The rates are extremely high though because the building is more at risk for having bad things happen to it.
Which made me wonder, do builders insure their buildings while they are still under construction?


Usually yes, for precisely this reasons. The money is *already* invested in the property at that point so it'd be stupid to not have it insured....even doubly so if you have contractors on the property, in case they get injured during construction.