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As a contractor, you may be questioning if you really need to add Builder’s Risk policies to your coverage.  After all, you may already have Contractors […]

We all know that disaster coverage for General Contractors is necessary for your business but, is it included with your Builder’s Risk Insurance? The short answer is that Builders Risk by definition is only property coverage. But what does this mean?

Builder’s Risk Insurance is a specialized insurance cover that protects buildings that are either being built or under renovation. Also called Course of Construction Insurance, it is ideal for protecting owners and general contractors for on site dangers. Builder’s Risk coverage provides a buffer against damage – be it natural factors or construction errors. Under Builder’s Risk Insurance, materials in transit or on site, equipment and temporary scaffolding are covered. As a matter of fact, with the contractor coverage, labor costs are also included in the cover.

Do you know what your policy states regarding insurance for lost productivity? During 2018 the Western Washington construction came to a standstill for 17 days due to workers downing tools. This is one of many examples of how the construction industry is vulnerable to lost productivity. Lost productivity can incur unplanned costs to your project due to fines imposed on missed deadlines, hiring additional staff to get the job done and more. This makes lost productivity insurance an important aspect of your insurance policy.

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.

What are Builder’s Risk benefits? Did you know that the cost of rebuilding the Notre Dame Cathedral in France is predicted to cost upward of one billion dollars? Were you aware the construction company working inside the building didn’t have a Builder’s Risk benefits policy on the 857-year-old building? And therefore, technically, the entire country of France is responsible for the bill? This is a contractor’s worst nightmare; a building that goes up in flames with no risk policy to offset the cost of any potential disasters.

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?