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February 2014 | Devact

Does a builder have insurance if a building has defects? Beware builders and owners!

Posted in Construction on Tue February 4, 2014



Most builders or contractors have a commercial general liability (“CGL”) insurance policy for a particular project. It is often required by the construction lender. However, whether this policy actually affords any meaningful insurance to either the contractor or the owner is another question.

Much to the surprise of builders and owners, construction defects are generally NOT covered by either a CGL policy or the owner’s homeowners policy (or business policy). The example we often give clients is that if your roof leaked as a result of a construction defect,

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Make sure that your automobile insurance policy has underinsurance coverage in the event of an automobile accident.

Posted in Automobile insurance on



Did you know that in North Carolina, a person is only required to have $30,000 in automobile liability insurance coverage? With the rising cost of health care and mandatory diagnostic medical procedures, a person seriously injured in an automobile accident may face medical expenses in excess of $30,000 in a matter of a day or two. That is why it is imperative that your insurance policy contain underinsurance coverage, sometimes called UIM.

UIM coverage means that if the person who caused the accident does not have enough insurance to pay you for your medical bills,

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