Builder's
Risk
This policy is designed to provide coverage for buildings
while under construction.
Our one-shot annual policy can be billed at a monthly
or an annual rate. Residential, Commercial, and
Remodeler’s Builders Risk coverage is available.
Structures valued up to $10 million (based in structure
type) may be written on the Residential Form,
with no Minimum Premiums on Reporting Forms.
Commercial policies may be written
for general contractors, trade associations, and other
builders. On Commercial policies, coverage is
provided for materials, supplies, machinery, equipment,
fixtures designed to be a permanent part of the fabrication,
erection, installation, alteration, or completion of
the project while at the project site, as well as in
transit, or at any temporary location. There is
no Coinsurance Clause, no Sinkhole Collapse Exclusion,
and no Mechanical or Electrical Breakdown Exclusions. Coverage
for Testing or Sprinkler Systems, Plumbing, Piping
Systems, Gas Lines, Air Conditioning Lines, Elevators
or Escalators Servicing a Building are included. Valuation
can include Labor and Reasonable Profit.
In addition, our Builders Risk policy offers
a broad range of options:
-
Soft Costs
-
Medical benefits.
-
Business Income (including Rental Income) and Extra
Expense
- Earth Movement
-
Water Coverage
-
Ordinance or Law (Increased Cost of Construction;
Demolition Costs; Undamaged Portion of Building)
- Permission to Occupy
- Reporting Form Options
- Deductible Options
Contact
us with questions or to learn more.
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