A 50-unit condominium under construction was recently destroyed in a fire with damage estimated at $20 million. The 159,792 businesses that make up the construction industry all have exposures that can lead to similar, significant losses.
Severe and unexpected costs can often arise from property damage at worksites. In some instances a project may be delayed or completely halted due to the damage. With homeowners and commercial property policies typically excluding buildings under the course of construction, it is essential that your clients obtain tailored protection.
Builders Risk Coverage is designed to protect new builds and buildings that are being repaired, reconstructed or renovated.
Coverage Details and Features
- Residential or commercial ground-up construction or renovation
- Corporate Named Insured’s are eligible including Trust’s and LLC’s
- Up to $5M liability offered with a licensed/insured contractoror higher liability limits available
- Protection class 9 and 10’s eligible
- Theft of Building Materials up to $100,000 or higher
- Mountain and brush properties are eligible
- Different term options available
- Non-licensed General Contractors with construction experience considered
- Owners acting as the General Contractors can be considered
- Can be written for renovations including structural renovations
- Property Coverage available in basic, broad, or special form
- Reimbursement available in the form of replacement cost or actual cash value
- Property Coverage includes building plus renovations
(including but not limited to)
- Project Owners
- Building Owners
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.
Builders Risk: Applications
Please choose the application that best fits your needs.
If you need additional assistance please contact your local office.Office Locations