Contractors: Understanding Builders Risk

By David Keller, CPIA
With summer rapidly approaching, the construction industry mobilizes. Development plans are implemented and the building season is under way. Insuring these projects through the course of construction is just as vital as insuring the completed product. Builders Risk insurance provides this necessary protection.

Builders Risk is unique coverage since it protects a structure during the course of construction. During this time, the structure should not be occupied and must remain vacant through the course of construction.

Builders Risk policies are designed to cover the structure through the course of construction or renovations. In addition to this, the builders risk policy will cover construction materials awaiting installation along with materials in transit. Also, the policy will provide coverage for materials at a temporary location prior to delivery.

Before starting your next construction project, be sure that your project is properly protected. For more information regarding builders risk programs or contractors insurance and bonds, Contact Us at 216-965-0646 or simply, Click Here.

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