Brentwood's city commission approved a higher public works fee for new homes, rising to $6,700 on January 1, with a vote on a higher permit valuation set for November 9. If you are planning a new build, those costs shape your budget, and so does insurance.
Higher Build Costs Mean Higher Coverage Needs
When the city raises the value it assigns to each square foot of new construction, it reflects rising building costs. The same trend affects your policy. A new Brentwood home should be insured for the full cost to rebuild, which is often higher than people expect. Ask your agent for a replacement cost estimate based on current local labor and material prices, and revisit it every year.
Insurance During Construction
- Builder's risk: Covers the structure and materials while the home is being built. Your homeowners policy typically does not apply until the house is finished.
- Contractor coverage: Verify your builder carries general liability and workers' comp. Tennessee law can make an owner responsible in some cases when a worker is hurt and the contractor is uninsured.
- Materials on site: Theft and storm damage to lumber and fixtures are common claims. Confirm who is responsible.
Plan the Transition to a Homeowners Policy
Your lender will want a homeowners policy effective at the certificate of occupancy. Request quotes early so there is no gap between builder's risk ending and your new policy starting. New construction often qualifies for discounts thanks to updated wiring, plumbing, and roofing.
Timing Your Permit
If fees rise January 1, some buyers will pull permits before year end. That is a budgeting choice, but remember that starting sooner also means carrying builder's risk and construction-loan costs sooner. Add insurance to your cost comparison, not just permit fees.
Questions to Ask Your Agent
- What is the rebuild cost per square foot for my plan?
- Does builder's risk cover my materials on site?
- When can my homeowners policy start?
- Do I need flood or water backup coverage?
Talk to All Seasons Insurance Group
All Seasons Insurance Group can review your situation and quote coverage. Call (865) 263-1400 or visit asigtn.com. Need real estate help? Visit Kings of Real Estate. Financing questions? AnnieMac Home Mortgage is at (865) 518-6408.
