Builders Risk
What is it?
Builder's Risk Insurance provides coverage for property damage or loss during the construction of a building or structure. It safeguards investments made in the construction project and ensures financial protection against unexpected events that could damage the building or materials.
Why is it important?
Builder's Risk Insurance is crucial because construction projects are exposed to various risks such as fires, vandalism, theft, and natural disasters. This coverage helps contractors, property owners, and investors mitigate potential financial losses due to such risks.
What does it cover?
Structural Protection
Covers damage to the building under construction, including materials, fixtures, and equipment.
Risk Mitigation
Protects against losses due to fire, wind, theft, vandalism, and other specified perils.
Customizable Coverage
Can be tailored to include coverage for delays, extra expenses, and soft costs incurred due to covered perils.
Additional Benefits
May extend to cover equipment, tools, scaffolding, temporary structures, and more.
Why Frontier Risk?
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Common Questions
No, Builder's Risk Insurance can also extend to renovations, remodeling projects, and installations within existing structures.
Builder's Risk Insurance primarily focuses on sudden and accidental physical damage during construction and typically does not cover design flaws, project changes, or planning errors.
Builder's Risk Insurance is a valuable consideration for contractors, property owners, and investors engaged in construction projects to safeguard their financial interests.