Who pays for property damage to a building under construction? Property Replacement Insurance provides coverage for vandalism, theft, wind and fire damage.
What is Builder’s Risk?
Property Replacement Insurance is Builder’s Risk. As a matter of fact, it is specially designed to protect buildings and structures that are being built or renovated. It covers the cost of construction. It also protects the equipment used at the project.
So, if the structure is damaged, Builder’s Risk steps in. The policy provides replacement cost equal to the value of the property lost.
Builder’s Risk Insurance includes:
- Protection for materials or equipment added to the property (for example, HVAC systems).
- Labor costs and expenses.
- Temporary structures such as scaffolding.
Contact the friendly team at Builder’s Risk (877) 960 0221.