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Let’s start by asking, what is building under construction insurance? This coverage is designed to protect your contracting business from the financial losses that can occur when something goes wrong on an individual project.
For many contractors, understanding and buying construction insurance is difficult. How do you know what coverage you need? Will you be caught out by the small print? Who do you choose when you want to get a policy? And how do you go about buying one?
Buying the right construction insurance is simple when your agent is a specialist.
What types of insurance do you need?
Your construction insurance program should include three types of insurance. Briefly these are:
- General Liability- this covers you if you are sued for damaging another person’s property or you cause someone bodily harm.
- Workers Compensation- this covers your employees for injuries sustained while working, and pays for medical expenses and loss of income.
- Builder’s Risk- this is property coverage for a range of events like theft, fire damage, weather events, vandalism and more.
General Liability and Workers Compensation is mandatory. Building under construction insurance, known as Builder’s Risk Insurance, is not a legal requirement but it offers great coverage.
What coverage must your Building Under Construction Insurance provide?
Builder’s Risk Insurance is customized to your requirements. Your business is unique. You offer certain services, in specific locations, and you have particular tools and equipment.
A Builder’s Risk Insurance policy will be specific to your project. Consider the risks you are facing. You can take an inventory of your tools and materials. Our knowledgeable agents will be able to guide you on the specific coverage you require.
What about the small print?
Stories abound about people that have experienced an adverse event and discover afterwards they didn’t have the required coverage or were under-insured. It makes sense to speak with an expert that has knowledge of building under construction insurance and has a good reputation in the industry. They can guide you on what needs to be included and the pitfalls to be avoided.
Who can you speak with for building under construction insurance?
It is important to deal with a reputable company that specializes in Builder’s Risk Insurance. When you deal with an expert, you get a properly tailored policy that meets your needs. Builder’s Risk Insurance is not complicated when your agent is a specialist.
Builder’s Risk.net has built an excellent reputation for providing policies that meet the needs of our clients. Our 5 star ratings speak for themselves. We know our reputation depends on providing good service and, more importantly, the right coverage for our clients. We will get you the coverage you require and also negotiate the best rates on your behalf.
How can you get Builder’s Risk Insurance?
Arranging your insurance is simple. All it takes is a phone call to Builder’s Risk.net. Our agent will ask a few questions to establish what you need, and we will then do the rest. Within the day you will receive at least 3 quotes from A-Class carriers. Call Builder’s Risk at 877 960 0221 and see how simple it is to get your tailored insurance solution.
