October 1, 2021
Learn how much to insure your project on your builders risk insurance policy. Not insuring your project to the correct amount can end up being a huge cost in the event of a claim.
Building Under Construction Insurance
Builder’s Risk insurance is also called Course of Construction Insurance. This coverage is for a specific construction project. Owners, property developers and General Contractors will invest in this project-specific insurance.
In other words, insurance for a building under construction is not the same as general liability insurance. Why? Because it does not include coverage for third-party damages.
5 Top Builder’s Risk benefits
Here are some of the features of Course of Construction coverage:
- It covers a specific project
- It protects against theft, vandalism, flood and weather damage.
- There is no coverage for liability claims
- It does not include Workers Compensation
- You get coverage for theft and vandalism.
So, find out more from the Builder’s Risk Insurance blog.
September 28, 2020
Property damage is part of working in construction. So, for protection against the resulting financial loss, contractors need insurance. Unfortunately, not all insurance is created equal. […]
August 3, 2020
Choosing the best insurance coverage to carry between different insurance options has always been debated. This review should help you clarify some of them and understand […]
July 6, 2020
Buildings under construction are prone to different risks. Contractors and building owners face challenges like vandalism, theft of construction materials, natural disasters, etc, while at the […]
July 1, 2020
Course of Construction Insurance is the way savvy contractors protect their profits. This policy is also known as Builder’s Risk Insurance precisely because it covers you […]
May 25, 2020
Did you know that theft of materials and equipment costs construction companies thousands of dollars and lowers their profits? You may have heard of builder’s risk […]
April 22, 2020
Having forward-thinking regarding workers’ reputation and safety can only benefit all sides. Unfortunately, accidents occur no matter how careful we are in our work. When that […]
March 17, 2020
Did you know that contamination cleanup for contractors is a significant part of the construction business? Several activities on a building site can cause pollution. However, some precautions can reduce this. As a general contractor, taking the right precautions to avoid pollution is a must. However, mistakes happen.
In this article we will look at how to minimize pollution, and how your Builder’s Risk Insurance Policy will cover you in the event of unforeseen incidents.
March 16, 2020
According to Farmer brown, about 50% of construction contractors in Montana experience theft on the job site while handling a construction project, which makes a builder’s […]
March 14, 2020
You have many choices when it comes to insurance for painters. But, like many contractors, painters find this whole thing about insurance a bit confusing. Policy jargon and insurance terms make it difficult to understand.
But, let’s all agree that the most important coverage for all contractors is general liability insurance because it covers third-party injury lawsuits as well as property damage. While we’re here, you know that your general liability insurance shouldn’t be less than $1 million in coverage right? Is it?
March 3, 2020
It’s easy to confuse insurance policies and believe they offer more protection than they do. Contractors are often left confused about whether their Construction Project Coverage is sufficient. Is Builder’s Risk enough or will more insurance be required?
Do you know the differences between Builder’s Risk and Inland Marine Insurance?
February 27, 2020
Regardless of what you’re building, fixing or renovating, the importance of Builder’s Risk for plumbing contractors cannot be stressed enough. Builder’s Risk insurance is a contractor insurance coverage created to help protect your business against disasters such as loss or damage to your tools or equipment.
10 Facts about Builder’s Risk for Plumbing Contractors
Below we’ll tell you more about what is also known as Course of Construction insurance.
February 26, 2020
Builder’s Risk Insurance for Painting Contractors — most painting business owners don’t think about it, do you? To be honest, your priority has probably been general liability and Workers Compensation. It’s easy to see why you wouldn’t have factored Builder’s Risk Insurance into the equation.
So the answer is, Yes.
Let’s take a look at where the protection your business gets from Painters Insurance stops, and where Builder’s Risk coverage starts.