Thinking about renovating a property, expanding your home, or building a custom home from scratch?
This episode of Wealth, Legacy & Property uncovers the insurance gaps that many homeowners and investors overlook — until it's too late.
Learn why your current home insurance may not cover you during major renovations, how builder’s risk policies work, and what type of coverage is required for house hacking, luxury upgrades, and new construction.
Whether you're upgrading a five-bedroom into a ten-bedroom home, building a coach house on an existing lot, or converting your primary residence into a rental, this episode delivers practical insights to protect your assets and avoid costly mistakes.
✅ Here’s what we cover:
The difference between builder’s risk and homeowner policies
What insurance covers (and doesn’t) during renovations and additions
Liability risks for landlords and investors
Umbrella coverage for multiple properties
House hacking policies for 2–4 unit homes
Why high-end materials (like imported marble) must be disclosed
Strategic tips for portfolio owners, landlords, and custom builders
📌 Don’t assume you’re covered. Most policies won’t protect you during major upgrades unless you notify your carrier and adjust your policy.
🎙 Hosted by Patrick Afrifah, Licensed Real Estate Broker — Chicago
📞 Contact Patrick: realtorpafrifah@gmail.com | (773) 484-6022
👤 Guest Expert: Brent Norkus — Insurance Broker at Comparion Insurance
📧 Email: brent.norkus@comparioninsurance.com
📱 Text/Call: (312) 519-5224
📅 Book a meeting
🔔 Subscribe for weekly insights on building wealth, preserving legacy, and protecting your real estate investments.
🌐 Follow the podcast: Wealth, Legacy & Property
#HomeInsurance #RenovationRisks #RealEstateWealth #HouseHacking #BuilderRisk #PatrickAfrifah #WealthLegacyPodcast
