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Updated about 13 years ago,
I see someone mention construciton , vacant and rehab policy?
What is the main difference? My insurance agent told me they are different and they have they those policy in place.
My question is if I bought a Construction policy? does it mean i have to build a new construction or remodeling/rehab is OK? Also if the construction begins in 2 weeks away, would the policy cover any damages happened before the construction starts? after the construction, and when I list the property on the market for sale, do I need to change the policy back to vacant policy?