How Builder’s Risk Insurance Helps Protect Construction Projects & Your Bottom Line
What does Builder’s Risk Insurance cover?
When embarking on a construction project, builder’s risk insurance can help protect materials, labor and equipment from potential damage caused by physical events such as fire, lightning strikes, vandalism, theft and explosions. It also covers any temporary structures built for the purpose of completing the project. Having this specialized coverage in place will not only safeguard the progress of the build but your bottom line as well. Without it, you could be left facing costly delays or profit losses due to repair bills or replacement costs.
Builder’s risk insurance helps protect construction projects from property damage due to:
Who Needs Builder’s Risk Coverage?
Get the Right Coverage to Safeguard Against Property Damage, Costly Delays & Profit Losses
What Types of Property Does Builder’s Risk Insurance Cover?
What Does Builder’s Risk Insurance Cover?
Builder’s Risk Insurance Exclusions
Be aware that builder’s risk insurance may have coverage exclusions. For example, earthquake, flood, wind or beach zones are usually excluded from coverage, but you may be able to get extensions to help protect projects vulnerable to these kinds of risks.
Other builder’s risk insurance coverage exclusions include:
How Much Does Builder’s Risk Insurance Cost?
Every builder’s risk insurance policy is different, so costs vary depending on what you need. Your policy may need more coverage or you may need to add extensions to help protect your construction project. Generally, your builder’s risk insurance cost depends on the: