Do you really know everything you need to know about Covid-19 and Builder’s Risk Insurance? The construction industry is not exempt from the disruptive impact of the coronavirus pandemic. Covid-19’s impact is easy to see. Construction sites are standing quiet and meeting project deadlines is becoming more and more unlikely. But what does this mean to your business?
Here are 3 things you should know about Covid-19 and Builder’s Risk Insurance
But how has it come to this? Let’s take a look at some of the preventative measures that are putting serious pressure on contractors.
If you have Builder’s Risk Insurance for any projects affected by these risk-mitigation actions, now is the time to take action. Here’s what you should know about Covid-19 and Builder’s Risk Insurance:
The second area of coverage does not apply to Covid-19 and Builder’s Risk Insurance because the coronavirus will not cause physical or structural damage to the project.
We agree: it’s a difficult situation that can really get you down. But this doesn’t mean that there is nothing to do. Many contractors are taking the time to investigate whether their insurance coverage protects their businesses from financial loss related to the impact of the coronavirus.
In order to do this effectively, you should consult with an insurance expert. Now is the time. We advise that you do this as soon as you can, before you get caught behind a bottleneck of contractors all asking the same questions. Insurance companies are likely to face thousands of requests for insurance assessments or policy extensions.
At Builder’s Risk Insurance we focus on Builder’s Risk coverage for the construction industry. What does this mean to you? We are up to date on changes in the industry and how they could affect your contractor business. Our experienced consultants can assess your coverage. Take quick action and speak with us at Builder’s Risk today. Call 877 960 0221.