A guide from BuidersRisk.net is here to help clients navigate Builder's Risk Insurance. The insurance covers ground-up construction, remodeling & installation—commercial or residential. It also covers the equipment & materials being used—not covered by other types of insurance. You can find more information at https://buildersrisk.net
Builder’s Risk Insurance Policy Guide
Construction Projects & Materials Coverage
Houston, TX-based BuildersRisk.net
has launched an online guide that’s
designed to give a simple overview of
Builder's Risk Insurance coverage,
covering the most common questions
clients may have about obtaining a
policy.
It aims to give prospective clients
a basic understanding of the
types of coverage offered, the
importance of that coverage, and
the different policy options.
The goal is that the information
will give clients the information
needed to ask their agent the
right questions so that they’re
able to obtain a policy that will
meet their needs.
Builder's Risk is a specialized form of
insurance specifically designed to protect
buildings and structures that are being built or
renovated. This includes ground-up new
construction, remodelling, and installation.
These projects are classified as either a
residential or commercial risk.
Not only does it cover the costs of
construction, it also can cover the
equipment and materials being used in
the construction project. A contractor’s
General Liability policy offers no
coverage if building or materials are
damaged.
The coverage can include protection
for materials and equipment added to
the property such as elevators and
HVAC systems, labor costs and
expenses, as well as temporary
structures such as scaffolding and
even landscaping.
A basic policy would start at a
minimum premium of $700 for twelve
months. This policy will generally
cover projects up to $200,000 in
value. The cost will also depend on the
type of coverage and exclusions that
the policy contains.
BuildersRisk.net has a free
quote tool available, for
clients looking for the best
risk insurance policy available
to them.
Another factor into the cost is the location of
the project. In areas that are susceptible to
wind, flooding, and other extreme weather the
prices are often higher. Damage from the
following events will be covered by most
builder’s risk policies: fire, lightning, hail,
theft, vandalism.
If you are in an area that is subject to
extreme weather, additional coverage
may be required for things like flood,
wind damage, and earthquakes.
There are other options you can add
to a basic builder's risk insurance
policy.
Go to buildersrisk.net
for more information!
Construction Projects & Materials Coverage
Houston, TX-based BuildersRisk.net
has launched an online guide that’s
designed to give a simple overview of
Builder's Risk Insurance coverage,
covering the most common questions
clients may have about obtaining a
policy.
It aims to give prospective clients
a basic understanding of the
types of coverage offered, the
importance of that coverage, and
the different policy options.
The goal is that the information
will give clients the information
needed to ask their agent the
right questions so that they’re
able to obtain a policy that will
meet their needs.
Builder's Risk is a specialized form of
insurance specifically designed to protect
buildings and structures that are being built or
renovated. This includes ground-up new
construction, remodelling, and installation.
These projects are classified as either a
residential or commercial risk.
Not only does it cover the costs of
construction, it also can cover the
equipment and materials being used in
the construction project. A contractor’s
General Liability policy offers no
coverage if building or materials are
damaged.
The coverage can include protection
for materials and equipment added to
the property such as elevators and
HVAC systems, labor costs and
expenses, as well as temporary
structures such as scaffolding and
even landscaping.
A basic policy would start at a
minimum premium of $700 for twelve
months. This policy will generally
cover projects up to $200,000 in
value. The cost will also depend on the
type of coverage and exclusions that
the policy contains.
BuildersRisk.net has a free
quote tool available, for
clients looking for the best
risk insurance policy available
to them.
Another factor into the cost is the location of
the project. In areas that are susceptible to
wind, flooding, and other extreme weather the
prices are often higher. Damage from the
following events will be covered by most
builder’s risk policies: fire, lightning, hail,
theft, vandalism.
If you are in an area that is subject to
extreme weather, additional coverage
may be required for things like flood,
wind damage, and earthquakes.
There are other options you can add
to a basic builder's risk insurance
policy.
Go to buildersrisk.net
for more information!