BLOG
November 3, 2021
Nov. 3, 2021 One of a builder’s greatest risks is a loss of your reputation. Why? Because your business depends on its reputation. A damaged or […]
November 2, 2021
Clients do research before they hire a contractor. They compare prices, check the authenticity of the contractors, and negotiate the best rates. As a contractor, are you prepared with the answers that will get you the job? So, what are clients looking for? In this article, we will look at five things that clients look for before hiring a contractor.
November 2, 2021
Did you know that 50% of all contractors experience theft of some kind? Florida, Texas, and California are among the top 10 states with the highest rates. But, this doesn’t mean you won’t get hit if you operate your roofing contractor business elsewhere According to the National Equipment Register, job site theft costs the industry almost $1 billion each year. It comes as no surprise that 90% of thefts occur between 6 p.m. Friday and 6 a.m. Monday morning. Does this mean your equipment and tools are safe?
November 1, 2021
Nov. 1, 2021 Builder’s Risk insurance is a type of construction insurance designed to protect buildings and structures that are under construction or renovation. In part […]
November 1, 2021
Nov. 1, 2021 Construction Insurance is the general name for insurance policies that protect property owners and contractors from financial loss during construction. Depending on the […]
October 28, 2021
Builder’s Risk Insurance is just another name for Course of Construction Insurance. It’s things like this that explain why so many contractors are confused by insurance. What contractors across the US are certain of, however, is that theft of construction equipment is on the rise.
October 28, 2021
How can you reduce your financial risk as a framing contractor? When you are fronting almost 18% of the overall building cost, you have a right to be nervous. Can Builder’s Risk Insurance take some of the stress off your business? Builder’s Risk Insurance is a policy that protects a contractor’s interests when working on building projects – whether buildings are being made or renovated. It is used by contractors to ensure that they’re covered in case of any loss in building materials or equipment – or even labor used and profits lost!
October 27, 2021
During the construction of a commercial building or a home, anything can happen. Buildings under construction can be vulnerable to a fire breaking out. There are many factors that can cause these fires, such as torches, soldering irons, welding machines, grinders, or heating elements. Fires often happen to a new build due to several of these things, but what’s the solution if a fire does happen?
October 27, 2021
Most property owners will require contractors to have Builder’s Risk insurance coverage. The coverage protects against several risks to buildings that are being built or renovated. No two policies are alike since every construction project has unique risks. Nonetheless, most Builder’s Risk policies cover property damage or loss due to fire, theft, lightning, vandalism, hail or explosions. It’s important to read your policy and familiarize yourself with its precise limitations and exclusions. For instance, wind, earthquake, and flood are typically not covered in coastal areas. Other standard exclusions include:
October 26, 2021
Oct. 26, 2021 Protect your General Contractor profits by making sure you have the best coverage for Builder’s Risk in Montgomery, AL. With a large population […]
October 26, 2021
Unlike other types of insurance, builder’s risk insurance can have a complicated end date. We’re here to help. If you have experience in obtaining insurance policies, then you understand that most policies have a clear beginning and a clear end. Most insurance companies will call these effective and expiration dates. However, if you’re new to the world of construction insurance, then you might not understand when builders risk coverage is ineffective. Builders risk is different because it doesn’t always have perfect expiration dates. This type of insurance coverage is placed during the course of construction.
October 19, 2021
One of the most important details about running a construction project, whether new construction or renovation, is the budget. Building owners and other insurable interests, for example, the construction company, all want to ensure that the project doesn’t lose money during the course of construction. Today, we’re going to talk about four ways that a business owner can save money while managing a construction project.
October 19, 2021
Oct. 19, 2021 Builder's Risk Insurance protects a construction project as well as all the tools, equipment, and supplies left on the job site. Today, we’re […]
October 4, 2021
Builders’ Risk is an insurance policy that provides financial protection for business owners in construction when something happens to their job site while it’s under construction or renovation. The insurance coverage usually extends to include fire, vandalism, theft, and extreme weather. Typically, you should expect to pay the insurance company somewhere between one and four percent of the total construction costs for this coverage. However, the cost of construction will vary depending on the needs of your business, the location, and the project type.
October 4, 2021
Course of construction, more commonly known as a builder’s risk policy, is an insurance policy protecting the materials and equipment that will be permanently installed at a new construction or renovation. Should something happen on your job site, having this policy on hand is the best way to make sure that the general contractor, the business owner, the property owner, and any other invested parties are covered from losses. The business owner or client will often require builder’s risk as a safety precaution, so be sure to account for this insurance policy within your construction budget.
