Insurance coverage is an aspect of business that professionals take seriously; builders and other construction professionals need a Builders Risk policy that best reflects their specific business risks and situations. For coastal and non-coastal situations, coverage for projects that haven’t been finished and nationwide coverage for a variety of locations are characteristics of a builder’s policy that reflects the diversity of risks that face the construction profession.
Special endorsements for the professionals relying on a Builders Risk policy to insure their projects, the time spent in labor and their financial investments are an extra layer of protection for the professionals and their projects. Some of the additional endorsements that brokers can share with their construction customers are coverage for temporary storage units or locations, coverage for pollutant cleanup, and coverage for dealings with government and municipal organizations. There are policy additions that will protect supplies while they are in transit and policy additions to reimburse businesses for loss during debris removal.
For all construction projects, from the residential remodel to the construction of commercial complexes costing millions of dollars, there is a Builders Risk policy. Before showing these policies to insurance brokers, a closer look at the insurance group is appropriate. A history of satisfaction from a wide variety of customers is important. Look for an insurance provider with nationwide experience and coverage. Look for a variety of limits and a high level of limit for clients with higher risk and cost capacities.