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 it and What Properties Are Covered?

Builder’s Risk Insurance is a property insurance customized for buildings that are under construction. This insurance covers buildings and structures. It also covers anyone invested in the construction. From when the policy goes into effect to the completion of the project and everyone receives payment, this insurance covers you.

So, Who Needs This 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. Therefore, it is vital that this insurance covers everyone involved in the job. Furthermore, it will also be beneficial to you to decide on what this covers, depending on the location.

Generally, it covers losses due to fire, lightning, hail, explosions, hurricanes, theft and vandalism. Exclusions are, depending on the location of the structure or home, earthquakes, flood and wind in beach zones, but the purchase of them may occur if the location is vulnerable.

Do I really Need Builder’s Risk Insurance?

Ask yourself if you have invested in the construction project,. This will determine your role. If you are, then it’s important to get the coverage you need. You can be sure that you need Builder’s Risk Insurance. Contact the trusted and experienced insurance agency like Builder’s Risk Insurance for more details on how to get the best protection for your business.

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

For more details on how our trusted agents can assist get the coverage you and your business needs, Contact us at 877-960-0221 today!