We understand the complexities and risks associated with construction projects. Builder’s Risk Insurance, also known as Course of Construction Insurance, is designed to protect your investment in construction from start to finish. This insurance is essential for anyone involved in building or remodeling, whether you are a property owner, general contractor, or developer.
Construction sites are vulnerable to numerous risks that can significantly impact the project’s timeline and budget. These risks include natural disasters, theft, vandalism, and accidents. Builder’s Risk Insurance provides coverage for buildings under construction, as well as materials, fixtures, and equipment being used in the construction or renovation.
Covers damage to the construction site, materials, and equipment from insured perils such as fire, wind, theft, and vandalism.
Provides coverage for additional expenses incurred due to construction delays, such as loan interest, real estate taxes, and lost sales or rental income.
Includes losses due to the testing of machinery and equipment during the construction phase.
Protects materials in transit to the construction site or stored at off-site locations.
Protects your financial investment against unexpected events that could otherwise derail the project.
Tailors coverage options to fit the specific needs and risks of your construction project.
Provides reassurance that you can recover from financial losses due to damages or delays during construction.
Choosing the right Builder’s Risk Insurance requires understanding the unique aspects of your construction project. Our team at Able Insurance specializes in construction insurance and offers expert guidance to ensure that your policy meets all of your project’s needs. We assist in assessing risks, determining appropriate coverage limits, and understanding policy terms and conditions.
Builders risk insurance is a specialized type of property insurance specifically designed for buildings under construction. It covers the structure and materials used in the construction of the building against loss due to hazards like fire, theft, vandalism, and natural disasters.
Builders risk insurance is necessary for anyone involved in a construction project, including property owners, general contractors, and subcontractors. It's essential for both new construction and major renovations.
While not required by law, many lenders require builders risk insurance before financing construction projects. Additionally, it's often contractually required by parties involved in the construction process.
Contact us today at Able Insurance. Our expert advisors are here to help you find the best coverage and answer any questions you may have.
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