Builder’s Risk

While busy turning blueprints into buildings, the last thing your client wants to worry about is making sure the property is insured properly. Receive a tailored policy unique to their project to protect contractors and owners against property losses.

• Targeting new construction and renovation projects
• Can work from any application
• Extensions/Cancellations are pro-rated when needed

POLICY FEATURES

• Broader definitions of covered property
• Ability to cover usable existing structures as part of renovation projects
• Broad additional insured/waiver of subrogation
• Multiple valuation options for new work and existing structures
• Broadened causes of loss that trigger optional Time Element coverage
• Broad definitions for optional Flood, Earthquake and Earth Movement

ADDITIONAL COVERAGES INCLUDED

The following coverages are part of every policy with default limits based on project value. Higher limits are available as needed to tailor coverage to the insured’s specific needs.

• Contract Damages
• Crime Reward
• Debris Removal
• Expediting and Extra Expense
• Loss Data Preparation
• Plans and Records
• Pollutant Clean Up and Removal
• Project Escalation and Change Order
• Removal Expenses
• Sewer Backup
• Temporary Structures/ Project Trailers

OPTIONAL COVERAGES AVAILABLE

• Flood and Earthquake
• Equipment Breakdown
• Soft Costs

PRODUCT HIGHLIGHTS

• $5,000 Minimum Premium
• Limits:
  New Construction:
  • Wood Frame: $7.5M on amount subject basis
  • Joisted Masonry: $20-25M
  • Non-Combustible: $150M
  • Masonry Non-Combustible, Modified Fire Resistive, Fire Resistive: $150M

  Renovations (with existing structure):

  • Wood Frame: $4M
  • Joisted Masonry: $20-25M

“A+” RATED CARRIER (VIA A.M. BEST)

Download as PDF

Builder’s Risk Application

1. Please download and fill out the pdf application:

Small Program Application

Large Program Application

2. Submit the completed application below: