Builders Risk Insurance
Construction projects carry exposures from groundbreaking through completion. Builders Risk insurance is designed to provide coverage for covered physical loss or damage to materials, supplies, and work in progress during the course of construction, subject to the terms, conditions, exclusions, and limitations of the policy issued.
1
Project-Specific Coverage Structuring
Builders Risk policies are structured based on the individual project. This may include review of total completed value, construction type, project duration, and reporting requirements.
2
Catastrophe & Location Considerations
Project location impacts coverage structure. Depending on the exposure, this may include consideration of wind, flood, earthquake, or other catastrophe-related provisions and applicable sublimits.
3
Soft Costs & Delay Exposures
Where requested, policies may include soft cost or delay-related coverage, subject to carrier form and underwriting approval.
4
Contractual Insurance Requirements
Builders Risk placement may consider insurance requirements outlined in construction contracts, including lender or owner specifications.
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