Do I need Builder’s Risk Insurance?

If you’re asking yourself this question, then you most likely need Builder’s Risk Insurance. Why is this? Well, if you have financial interest in a construction project, you’ll need to have Builder’s Risk Insurance in order to cover you.

What is Builder’s Risk Insurance and What Properties Are Covered?

Builder’s Risk Insurance is a property insurance customized for buildings that are under construction. Buildings and structures are usually covered under this insurance, and anyone invested in the construction will have coverage. From when the policy goes into effect to the completion of the project and everyone gets paid, Builder’s Risk Insurance covers you.

So, Who Needs Builder’s Risk Insurance?

• Property Owner
• General Contractor and Subcontractors
• Lender (if project being financed)
• Architects and Engineers (if not covered already)

Anything can happen during the construction of a home or any other structure, so it’s vital that everyone involved in the job is covered with Builder’s Risk Insurance. It will also be beneficial to you to figure out what is covered depending on the location.

Generally, losses due to fire, lightning, hail, explosions, hurricanes, theft and vandalism are covered. Depending on the location of the structure or home, earthquakes, flood and wind in beach zones are usually excluded, but extensions may be purchased if the location is vulnerable.

Builder’s Risk Insurance is the Safe Bet

In order to determine your role in the construction project, you need to ask yourself if you’re invested. If you are, then it’s important to get the coverage you need with Builder’s Risk Insurance. Contact the trusted and experienced insurance agency like Builder’s Risk Insurance.

The unexpected events can happen. Our Builder’s Risk Insurance protects construction materials, HVAC equipment, Labor costs, Vandalism, Scaffolding, Signage, Plants and Trees, Theft, Cribbing, False Work, Fencing, and Fire.

Contact us at 877-960-0221 today!