Builder’s risk insurance is a specialized property insurance that helps protect buildings under construction. This type of policy covers the materials, equipment and other property located at job sites.
Gray Insurance Group Inc. is here to help you secure a customized policy, giving you the security needed to complete projects successfully.
What Does a Builder’s Risk Insurance Policy Cover?
Contractors are primarily responsible for carrying out some form of construction, whether that entails a general task or a more specialized project. Regardless, you must ensure that projects get completed correctly, on time and within the anticipated budget. Builder’s risk insurance can help keep you on track.
Builder’s risk insurance helps contractors and individual property owners who are managing their construction projects by providing the following coverage:
How Much Does Builder’s Risk Insurance Cost?
New construction insurance pertains to new construction projects and can apply from the start of the project to completion.
Remodeling insurance helps cover damage to a property undergoing renovation. So, if you are remodeling a kitchen, this coverage can protect you during the process.
Installation insurance helps cover property before it gets installed into a permanent place. For example, if a contractor stores material at a job site and the materials they plan to use are stolen or damaged, this coverage may pay for recovery costs.
Premises liability insurance covers the cost of third-party injuries and damage claims related to your work, such as accidents that happen at your business or at a customer’s property.
The cost of your builder’s risk insurance policy varies and depends on several different factors. Your agent can help you find an affordable policy that adequately addresses your particular needs. Contact your agent to get a quote.
Learn More About Builders Risk Insurance
At Gray Insurance Group Inc., our agents can assist you in finding the appropriate builder’s risk policy that caters to your specific risks. To get started or learn more, reach out to one of our agents today.