Building insurance can protect your project in the event of a fire. Why should this interest you? Simply because there is an upward trend in fires on construction sites. Incidentally, the NFPA reports that an average of 3840 fires occurs on new constructions annually, and 2580 occur on sites where major renovations are taking place. Hence, this results in more than $408 million per year in direct property damage.
Let’s talk about the leading cause of fires on construction sites and how building insurance can help.
If any of these things were to happen on your construction site do you have the necessary insurance to protect you from losses? This is not even an exhaustive list and there are still other causes of fires on construction sites.
Builder’s Risk Insurance, a policy tailored for your particular project, and will typically include coverage for fire. Moreover, it is important to note that building insurance has inclusions and exclusions and it is advisable to speak to our agents about these and to check yours carefully. For example, illegal acts by employees as well as accidents and injuries on site are common exclusions.
There are many risks in construction, and fire is just one of them. Speak with one of our agents to customize your policy to suit the dangers of your project. Furthermore, our agents are knowledgeable about the industry and experts at getting you the right coverage. Call Builder’s Risk at 877 960 0221 to protect your construction project from financial losses.