Builder’s Risk Insurance in Colorado: Insuring the “Highest State”

Colorado boasts a landscape of mountains, canyons, lakes, high plains, and desert lands. People flock to the Centennial State for its beauty and quality of life. It’s one of the places in the country to expand your footprint in insuring residential and non-residential new builds and remodels.

Distinguished offers a competitively priced, comprehensive Builder’s Risk insurance program to support your marketing plans and help you boost your book of business. Getting in on new construction builds is a great way to continue to insure properties once they are completed. You can transition from providing Builder’s Risk coverage to offering Homeowners or Commercial Property insurance.

Why Distinguished’s Colorado Builder’s Risk Program?

Our Colorado Builder’s Risk program provides robust coverage for ground-up construction and remodeling projects. We cover building costs, foundations, onsite materials, goods in transit, fixtures, equipment, and temporary structures. Temporary structures may include scaffolding, temporary buildings or structures, fencing, and antennas. Materials stored outdoors or outside a predetermined distance from the construction project are also covered.

The policy offers protection against fire, lightning, hail, wind, theft, and vandalism, among other hazards. In addition to physical damage or loss, our Builder’s Risk program can be designed to reimburse a client for employing protective measures following a physical damage loss, such as debris removal and pollution cleanup.

Policy Limits Included in Our Builder’s Risk Insurance Program

You can offer 3-, 6-, 9-, or 12-month policies, with extensions available upon review. We cover all types of construction – from fire-resistive to frame. We provide up to $7.5 million frame construction and up to $20 million for all other construction types. For Betterments Only coverage, we offer up to $5 million for condo owners or tenants needing coverage for improvements made in their units.

Additional Features Available in Our Builder’s Risk Program

Our program includes several additional coverages and sublimits. There is coverage to pay for the costs of bringing a building up to code following physical damage caused by a covered risk. The policy covers water damage and repair costs if a sewer or drain backs up into the building.

There is also coverage for materials and equipment stored during construction before being delivered to the workplace. In addition, damage to construction documents is covered. Trees, shrubs, and plants are covered on the job site during planting, installation, or while construction is ongoing.

We also cover soft expenditures up to 10% of the completed project value. Soft costs are fair and necessary expenses incurred during the construction, installation, or fabrication of a building/structure that would not have occurred without direct physical damage. These include advertising and design fees, professional fees, lease administration expenses, and additional real estate taxes and assessments incurred when construction was delayed past the projected completion date.

General Liability Coverage Is Also Available

One of our unique features includes the ability to also provide General Liability coverage of up to $1 million/$2 million as long as the named insured is the owner, trust, or lender – not the general contractor or developer.

 What Is Our Appetite for Builder’s Risk in Colorado?

We provide Builder’s Risk coverage throughout Colorado. In wildfire areas, we look at the fire severity hazard score for new builds and remodels to determine if the risk is located in a low-, moderate-, or high-risk wildfire zone and whether we will write the coverage. We will look at the hail score for hail-prone areas to evaluate the individual risk and may require a wind/hail deductible.

We write frame structures up to $7.5 million, ideal for the many multimillion-dollar properties in Aspen and Vale.

Getting a Quote with Distinguished Is Easy

You can get your client a quote easily using our online portal. Simply register your brokerage, go to our Broker Portal, and spend a couple of minutes adding in the insured’s details, and we’ll get back to you with a quote. If your clients like what they see, you can bind the policy right there through the same online portal.

About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Hotels, and Restaurants. Property and Liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

View a full list of our programs and submit business with Distinguished.

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