Builder’s Risk

Builder risk insurance should be obtained as soon as construction begins. This ensures that you have coverage from the start of the project.

Several factors can influence your builder risk insurance premiums, including:

• Location: Buildings in areas prone to natural disasters may have higher premiums.
• Type of construction: The materials used, and construction methods can affect the premium.
• Project value: The estimated project cost will determine the coverage needed and, consequently, the premium.
• Contractor's experience: The contractor's experience and safety record can impact the premium.
• Coverage limits: The amount of coverage you choose can influence the premium.

Builder risk insurance typically doesn't cover:

• Damage caused by faulty workmanship
• Loss of profits
• Delay in construction
• Earth movements (unless specifically covered)

While both builder risk insurance and general liability insurance are important for construction projects, they cover different aspects. Builder risk insurance protects the building itself, while general liability insurance covers bodily injury and property damage caused by your business operations.

Contact a Top Insured Agent today!