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BuildersRisk.net has launched its builder’s risk insurance service. The company offers insurance policies that provide coverage for properties and buildings during the construction process.
More information is available here www.buildersrisk.net.
The newly launched service covers ground-up building projects as well as renovations. Coverage from a builder’s risk insurance policy also extends beyond the building itself to protect equipment and costs of construction.
By purchasing builder’s risk insurance construction companies protect their business from unexpected damages and secure the future of their commercial or residential construction projects.
In most cases a policy covers labor, materials, and equipment used during the course of the construction project. This includes coverage for HVAC equipment, scaffolding, signage, plants and trees, cribbing, false work, fencing, vandalism, theft, and fire. Some policies also cover profit.
Not included in builder’s risk insurance are earthquakes, floods or wind damage in coastal areas, which usually require additional coverage unless specifically added to the policy.
A builder’s risk policy typically costs 1% to 5% of the total construction budget and can be customized to meet the needs of the customer.
It is required to insure the project to 100% of the final value of rebuilding. This value does not include the value of the land.
Policies typically last three, six, or 12 months and can be extended until the project is completed or the structure is occupied. A new policy is needed once the project is completed.
While the law generally does not require a builder’s risk insurance policy, many clients will refuse to work with construction companies that do not have one.
Builder’sRisk.net offers free quotes. After customer’s get in touch, the company shops A-rate insurance carriers to find the best coverage at the lowest price. The company then reviews the best options and then lets customers decide on a policy.
Customers can then set up a payment plan and will receive their certificate to commence their coverage.
For more information about BuildersRisk.net visit the website listed above or call 877-960-0221.
Release ID: 88964870