Add This Essential Coverage To Your Construction Insurance

Does your construction insurance give you all the coverage you need? If it doesn’t include Builder’s Risk you may find you don’t have the insurance you need when something unexpected happens. This is not mandatory insurance and so some role players in the construction industry are not fully aware of how it can help their business.

Let’s look at what Builder’s Risk is and why you should add it  to your insurance portfolio.

What is Builder’s Risk Insurance?

Builder’s Risk is property coverage and is applicable to certain types of construction projects.  This includes new buildings as well as the restructure, renovation or remodeling of existing buildings.

Those with an investment in a project of this type can purchase a Builder’s Risk policy.  This could be a developer, contractor, homeowner, lender, or even a professional such as an architect.

What coverage does this construction insurance include?

Builder’s Risk gives coverage for a number of items.  Every business is unique, and so is each project. A policy is customizable for the individual business.  Some of things that can be included in a Builder’s Risk policy are:

• Property replacement
• Damage to materials and equipment
• Contamination of site and Clean-Up
• Debris Removal
• Theft of Tools
• Loss of profit in the event of delays due to Building Ordinance changes
• Protection of important plans and documents
• Soft costs such as architects and engineers

What should you include in your policy?

A practical way to assess the construction insurance coverage you need is to take an inventory of your materials, tools and equipment.  This will give you a sense of what you need.

As important is to speak to an industry expert that can guide you in what you should include.  At Builder’s Risk Insurance our agents have many years of experience and knowledge of the industry and they can assist you.

Why choose us for your construction insurance policy?

When you buy a policy you want to get the right coverage at the lowest price.  This is different to simply selecting the cheapest policy available.  You want to make sure you are covered for the risks you face and of course you want to pay as little as possible.

At Builder’s Risk we can help you with this.  We have access to a wide network of providers and that means you get options.  Our insurance providers include Regional and National companies that are able to provide competitive quotes.  We will also get you at least three quotes so you can compare and choose what is best for your business.

Builder’s Risk Insurance is best

Adding Building Risk to your construction insurance gives you the property coverage that is not included in General Liability and Workers Compensation.  By including a Builder’s Risk policy you will have property coverage needed for the risks and problems you typically face in your business.  Let us walk you through the available policy options and set you up for success.  Call us on Builder’s Risk on (877) 960-0221.