A home under construction is vulnerable to a variety of risks, including wind damage, fire, theft of materials and vandalism, so insuring it begins long before the building is finished. Talk to an insurance agent about the type of coverage you need before you break ground.

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Either you or the contractor should have builders risk insurance, a special type of property insurance designed for a building under construction. The policy covers the unfinished structure and materials. A standard home insurance policy generally excludes coverage for theft of materials for "dwellings under construction." Builders risk insurance is not as expensive as a standard home insurance policy because it covers only the property. It does not cover liability or personal belongings, such as furniture and clothing.

You should also have liability insurance in case someone gets injured on the property, such as a friend touring the unfinished home or neighborhood kids attracted to the construction site. Liability insurance would pay your legal costs if you were sued. Make sure your general contractor is adequately insured, too, and consider asking to be named as an additional insured on his liability policy for extra protection.

When the building is completed, and you're ready to move in, you can drop the builders risk insurance and buy a standard home insurance policy. Purchase enough insurance to cover the cost of replacing the home. Home insurance policies include coverage for personal belongings equal to about 50 to 75 percent of the home's replacement cost. The precise figure depends on the policy. Make sure the coverage is adequate for all your stuff, and consider buying additional coverage for valuables, such as expensive art, antiques, electronics and jewelry. Home insurance puts a dollar limit on coverage for these items. You have to pay extra for an endorsement on the policy, or "floater," to provide greater protection.

1. A creek flows through the back yard of a home I am purchasing. Do I have to buy flood insurance?
2. A neighbor's tree fell across my fence. Whose insurance pays?
3. Are new manufactured homes safer than older models?
4. Can I buy insurance to cover my new diamond engagement ring?
5. Can installing a home security system reduce a home insurance premium?
6. Could my home insurance company cancel my policy after I file just one claim?
7. Do I need to buy flood insurance even if I don't live near water?
8. Does home insurance cover all exterior elements?
9. Does home insurance cover jewelry and fine art?
10. How can insurance protect me if my luggage is lost, stolen or damaged?
11. I own a historic home. Do I need special insurance?
12. I'm building a house. How do I insure it while it's under construction?
13. The laptop my company provided to me was stolen recently. Whose insurance policy pays?
14. What are the insurance issues to consider if I decide to rent out my home?
15. What insurance do I need to cover my laptop computer?
16. Will home insurance cover a stolen bike?
17. Will homeowners insurance cover a gun collection?
18. Will insurance cover my valuable coin collection?
19. Will my home insurance cover falling trees and damaged shrubs?
20. Will my home insurance policy cover an in-law apartment in my house?
21. Will my home insurance policy cover hurricane damage?
22. Do I need flood insurance if I live in a condo?
23. Do I need title insurance if I'm buying a condominium?
24. If damages in my condo spread to a neighbor's unit, will my home insurance pay for repairs?
25. What type of home insurance should I purchase for my condo?
26. Will a roommate's renters insurance policy cover my possessions, too?