The Preferred Contractors Insurance Company for Builder’s Risk Coverage

General Liability Insurance for Contractors is mandatory so you probably already have this insurance. It covers your company in the event you are sued by a client or a third party for damages. There are many more risks that you face so it is not the only coverage you need. Another form of insurance that protects you from many unforeseen events is Builder’s Risk Insurance. It is one of the best ways to protect your project from losses.

What is Builder’s Risk Insurance?

This is specialized insurance applicable to certain types of construction projects. These include:

• The construction of new buildings from the ground up
• Renovation of existing structures
• The refurbishment of an existing building
• Restructuring an existing building, such as adding a staircase or reinforcing foundations

It is also known as Course of Construction Insurance because it covers you for the duration of the building process. This is term insurance that is specific to a project. It is normally 3, 6 or 12 months in duration.

What coverage does it provide?

Builder’s Risk Insurance is tailored to your needs. No two policies are the same as every project (and your business) is unique. In general, most policies will protect the property as well as materials and equipment used in the construction process. You can include many loss events in your policy. Typical events listed in many policies are fire, theft, vandalism and weather events. You can also include coverage like:

• Removal of debris
• Decontamination of site
• Temporary storage of equipment
• Transportation of material and equipment to site
• Soft costs (eg fees for architects, marketing, expeditor fees)
• Loss of profit due to delays
• Building ordinance changes

How is Builder’s Risk Insurance different from General Liability Insurance for Contractors?

General Liability Insurance for Contractors is focused on resolving and settling claims with third parties when you are accused of negligence that results in damages. It assists with the cost of your defense as well as settlement costs. This is very different to Builder’s Risk Insurance.

With Builder’s Risk, if a covered loss event occurs, your policy will pay the replacement cost for the property that is lost or damaged.

Why Choose Builder’s Risk.net for your Builder’s Risk Policy

At Builder’s Risk.net we specialize in Builder’s Risk. We’ve been operating for more than 20 years. We know property insurance. We also understand the risks you face as a contractor. Some of the reasons you can confidently choose us to write your policy include:

• We’ll work with A-rated insurance carriers and will get you the right coverage
• We negotiate on your behalf for the lowest rates
• We’ll deliver on customer service with speedy turnaround
• We offer payment plans to suit your business
• Our customers say it best with hundreds of 5-star reviews

You need more than General Liability Insurance for Contractors

Speak with us at Builder’s Risk.net about your property coverage requirements. Call Builder’s Risk at 877 960 0221 today for a policy uniquely suited to your business.