Homewoner insurance and builder risk insurance question
Trying to understand what's needed or no as I'm tearing down a very old home (not occupied) and building a new home. Am renting an apartment and will rent until the construction is done.
Mortgage company has said need I builder's risk insurance for which I've contacted Zurich to obtain quote.
General contractor will also be adding me as additional insured for the construction with his liability insurance, e.g. certificate of liability insurance.
So then do I need to also get homeowner's insurance as well? An insurance broker said I also need this for liability purposes. But I thought I'm covered by the general contractor or am I really not?
Is this something that everyone also purchases in addition, but then what insurance company do I get a quote a homeowner insurance for a house that is going to be built not already existing?
Appreciate any help. TIA