Post Topic
Builder’s Risk Insurance
How to Close a Construction Site During the Holidays
The holiday season is around the corner and that means many construction sites will be shutting down for a while. While many workers and contractors will be welcoming a much-deserved break — there a few things to consider before you close a construction site to keep the property and everyone else safe.
When Should a Builder’s Risk Policy Be Purchased?
This is an excerpt from our free “Broker’s Guide to Builder’s Risk Insurance” eBook. Click here to download your copy. A Builder’s Risk policy should be purchased prior to or on the date of construction when the contract is finalized – before the project is underway. Builder’s Risk is temporary insurance with coverage ending once the…
How Much Does Builder’s Risk Insurance Cost and Who Pays for It?
The bottom line for most insurance packages is cost: how much will it cost your customer in dollars, and how much will it cost you in patience to explain the size of their premiums? We joke, of course. But seriously, clients don’t want to pay for something they won’t need, and a Builder’s Risk insurance…
What Does Builder’s Risk Insurance Cover?
Builder’s Risk insurance policies are not created equal, with a wide variance in the scope of coverage available in policies on the market today. It’s important to ensure that each of the insureds covered in the policy understands what is and isn’t covered and what supplemental coverages and extensions are available to address certain exposures…
When Do I Need Vacant Building Insurance?
Homes become vacant for a number of reasons. A house may be up for sale and the sellers have already moved, or the home is an investment property and it’s taking longer to find tenants. Standard homeowners insurance policies include a vacancy clause which eliminates and/or restricts coverage for losses on property that is vacant…
Protect Vacant Buildings from Halloween Vandalism
After more than a year of pandemic protocols and social distancing, experts like Dr. Fauci say families should enjoy trick or treating. That’s great news for all the children who missed Halloween last year. But Halloween can be the scariest night of the year for the owners of vacant real estate. Halloween vandalism at vacant…
Builders Risk vs General Liability for Contractors: What’s the Difference?
Construction projects are full of risk, and there are several different insurance products available to cover these exposures. Among the most common policies are builder’s risk insurance and general liability. Many people wonder if they can cut costs by only purchasing one. Is the coverage redundant? Do you really need both? While there is some…
Preventing Vandalism Amid Summer Uptick
Mischievous people with nothing to do, long summer days, and plenty of vacant and unoccupied buildings: a recipe for disaster. Whether your insured owns a vacant building or a building in the midst of the construction process, they should take steps to mitigate risk of vandalism, theft, and property damage as the universe conspires to…
Most Popular Home Improvement Projects Amid COVID
Stuck at home, homeowners are displeased with their surroundings and funneling money they would have normally spent elsewhere into their homes. Over the past year, home improvement projects have surged and are showing no sign of slowing down. According to a survey from Axiom, a Minnesota-based marketing firm, 90 percent of 1,000 surveyed homeowners are…
The Importance of Flexible Policy Terms Amid Widespread Construction Delays
Construction projects have historically been prone to delays. Now, after months of labor restrictions, material shortages, and an increase in renovations, delays are more widespread and severe than ever before.