Builders Risk Insurance | Builder's Risk Insurance | Builders Risk Policy | Builders Risk Coverage

All buildings that are under construction require a policy that covers the unique loss exposures of buildings that are under construction, this type of policy is called a Builders Risk Policy.

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Builders Risk Insurance

Until the construction work on the building is completed, it is not considered a finished building, therefore it can not be covered under a regular Building Insurance Policy or a Homeowners Insurance Policy, it needs to be covered under a Builders Risk Insurance Policy. Most Building Insurance or Home Insurance Policies have an exclusion for structures that are in the course of construction. The insurance company can cancel the insurance policy or deny a claim if it not insured properly under a Builders Risk Policy. The Builders Risk Policy will be in force during the course of construction and will be replaced with permanent insurance once the building is ready for occupancy.

DurAmerica Brokerage specializes in Builders Risk Insurance, our professionals negotiate with the many insurance companies that we represent to get you the best coverage at the lowest cost.

What Does A Builders Risk Policy Cover?

It Provides coverage for homes or buildings during the construction phase. The construction does not have a "new" construction to qualify, it can be a new construction project or simply a renovation of an existing home or building. A Builders Risk Insurance Policy will cover the property owners or contractors against losses of their material at the job site before they are installed. Construction materials that are in transit to the job site and we can even cover the value of the existing structure of the home or building. It can also be used to cover specific projects such as a new roof, new porch, additional room, new or renovated garage, new kitchen or bathroom

Who Needs To Purchase A Builders Risk Policy?

Typically the contractor or developer will purchase the Builders Risk Policy. However, it is sometimes purchased by the building owner or the homeowner if that is how the the contract is written between them and the contractor. If a construction loan has been issued by a bank, they typically want the purchaser of the Builders Risk Policy to be the one who signed for the loan. We can issue a Builders Risk Policy for as short as 3 months and up to 1 year. If your project is longer than 1 year in duration we can still accommodate you by requesting company approval.

What Other Policies Go Along With A Builders Risk Insurance Policy?

Builders Risk Insurance Policy is a property only insurance policy, it covers the structure and any material on the job site, it does not cover any liability for the owner of the project or the contractor. We can write a Contractors Liability Policy for the general contractor or we can offer a Owners Protective Policy for the homeowner. You may add the following to your Builders Risk Policy:

* Property in Transit

* Coverage for the Construction Soft Costs

* Coverage for Property at a Temporary Location

How Long does it take to get a Builders Risk Insurance Policy?

We are a direct agents for many Builders Risk Insurance Carriers. We have the ability to issue Builders Risk Insurance Policies directly from our office, so in most cases we can bind and issue immediately.

Click Here for a Builders Risk Insurance Quote

DurAmerica Brokerage Inc is one of the best agencies to quote a Builders Risk Insurance Policy. We are the low cost solution for your Builders Risk Insurance Policy.

DurAmerica Brokerage offers Builders Risk Insurance Policies and coverage in New York, New Jersey and Connecticut.

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Builders Risk Insurance | Builder's Risk Insurance | Builders Risk Policy | Builders Risk Coverage