A Builder’s Risk Insurance policy could be the saving grace for your business. Construction is risky. Unexpected events can happen that end up costing you a lot of money. Many small contracting businesses don’t survive when things go wrong. Let’s look at some of the events Builder’s Risk insurance helps with, and if your business qualifies for a policy.
There are many things that can go wrong on a building project. In looking at them ask yourself if your business would survive them without insurance?
This is a small sample of the risks construction projects face.
A Builder’s Risk Insurance Policy is also known as Course of Construction Insurance. Its purpose is to safeguard you from losses that happen during the building process. Your policy is customized for your project to include the coverage you need. In the event that a risk materializes, you don’t have to pay for the losses out of your own pocket.
Builder’s Risk Insurance is specialized property coverage. It is only for the construction of new buildings and the renovation or restructuring of existing ones. A policy can cover the whole of the project and all of its participants- the developer, contractor, sub-contractors, lender. Anyone with a financial interest in the project can be covered by the policy. The policyholder must have two year’s experience in their area of expertise to get a policy.
At Builder’s Risk.net we specialize in this insurance. Our agents are experts with experience in the industry. All it takes is a phone call and a few minutes of your time. We represent A rated insurance carriers and will get you a policy tailored for your business. Call Builder’s Risk at 877 960 0221 and protect your business from future loss.