Builders Risk
What is a Builders Risk Insurance Policy?
What is the Purpose of a Builders Risk Insurance Policy?
Builders risk insurance is designed to specifically protect buildings that are being renovated or under construction. Coverage, depending on your policy, can include protection for the construction materials, HVAC equipment, labor costs and other construction-related expenses.
What Isn't Covered by A Builders Risk Insurance Policy?
Builders risk insurance only covers certain accidents, and faulty workmanship typically isn’t covered under this policy. This type of damage is often the result of a professional error, not an accident. Read your builders risk insurance policy carefully, and don’t be surprised if it includes a specific exclusion for faulty workmanship.
Why Would You Need Builders Risk Insurance?
Builder’s risk insurance provides financial protection over a building or other insured area that is currently under construction. This customizable insurance policy, which is often called Course of Construction coverage, is usually a requirement for government projects and, construction projects paid for through a lender.
Want a Free Builders Risk Quote?
Grow Green Insurance offers unique builders risk solutions such as:
• Specialty carriers for every industry
• Preferred pricing through partnered relationships
• “Pay What You Want” in Broker Fees