Comparing Remodeling, Renovation and Restoration Projects for Builders Risk

Oh! Hey there.

The other day, I was reading an article titled “Things People Think Are The Same But Totally Aren’t.” They had stuff listed like chocolate cake and devil’s food cake, concrete and cement, grocery stores and supermarkets... 

The internet says there are differences. 

And, since I think of myself as a scientist — especially when it involves desserts — I figured I’d conduct a little taste test for us. For science, obviously.

As for the other stuff … I’ll just take the word of the internet.

Speaking of things that seem the same but aren’t, let’s compare remodeling, renovation and restoration.

A lot of insurance agents lump them together — but they’re not interchangeable.  

Let’s break this down.   

We’ll start with remodeling and renovation. Generally, a renovation is more surface level. Think painting, changing light fixtures, updating flooring, replacing kitchen or bathroom cabinets without moving the plumbing.  

Remodeling, on the other hand, is more of a transformation. So that could be anything from adding or removing walls, rerouting plumbing or electrical for new fixtures, building an addition — the big stuff. 

Now here’s the twist. 

Zurich's builders risk program treats remodeling and renovating the same. The amount of coverage you'd need will vary depending on the type of work being done.

But, restoration is a whole different slice of cake. 

Renovating and remodeling involve removing the old to replace with new.  

Restoration involves returning a structure to its original glory. The construction is super tricky.   

And, here’s why restoration projects usually don’t qualify under Zurich’s program:  

First, restorations often require rare and antique materials … and those are difficult to source.

Second, very skilled and specialized contractors are often needed to do the work. They’re hard to come by, and the vetting process for them can be more complicated.

And third, it’s very difficult to put a price on rare and antique materials. And Zurich doesn’t offer an “agreed amount” value option.

So now you know! Turns out, not all remodeling projects are the same.  

Now, back to the real experiment. Time for me to find out if these two heavenly slices actually taste different.

Wait … where’s the milk?

Perfect. ‘Til next time.

This is intended as a general description of certain types of insurance and services available to qualified customers. Any description of policy provisions is meant to give a broad overview of coverages and does not revise or amend a policy. Refer to the policy coverage form for a complete representation of the scope of coverage, terms, conditions, exclusions and more. The policy is the contract that specifically and fully describes your coverage. Some products may not be available in all states and may only be offered on a non-admitted basis. Product availability is subject to change.