Abram Interstate Insurance Services Inc. in Rocklin, Calif., is offering a new owner builder course of construction policy in California. Coverage is written on a homeowners HO-3 Form. Builders Risk policies can be converted to a full homeowners policy upon completion.
Coverage limits start at $300,000. Total insured value of more than $5 million is subject to approval. Premises liability, theft of building materials — up to 30 percent — and extended coverage is available. Up to 40 percent prior construction is OK. Coverage is based on the completed value. The coverage is being provided by a non-admitted carrier rated “A+,” XV.