CONSTRUCTION & BUILDER'S RISK INSURANCE

Construction projects involve additional risks of property loss and of public liability. Insuring these added risks properly is important for the project owner as well as the general contractor, and we can come in with solid, economical solutions.

Builder’s Risk insurance protects the value of a building (or a remodeling project) as it increases, up to the time when it is finished and/or occupied. Covered property includes foundations, building materials on site (and off-site, if requested), machinery & equipment that will become part of the building (on-site), and can cover scaffolding & forms. Unless special arrangements are made, landscaping, towers, antennas and signs are not covered.

“Soft costs”, including architects’ fees, loss of income, and financing costs can be insured with many builder’s risk insurers. Earthquake and flood perils coverage can usually be added on request. Interests of the project owner, the general contractor, or both, can be insured.

Construction Liability insurance should be in force whenever there is a construction project. Care should be taken in naming appropriate interests and covering their contractual responsibilities when possible. Don’t forget to arrange coverage up through the higher limits you need (with an Umbrella or Excess liability policy).

It's easy to neglect the many coverages necessary
for a successful building project.