Post Topic
Construction Insurance
What Are Soft Costs in Builder’s Risk Insurance?
Buildings under construction or renovation require a Builder’s Risk policy. This specialized type of Property insurance protects an individual’s or organization’s insurable interest in the cost of constructing the building against physical damage or loss from covered perils. The temporary policy is typically written for 3, 6, 9, or 12 months. Generally speaking, the exposures…
Builder’s Risk Insurance for Homeowners: A Comprehensive Guide
Imagine a homeowner investing their life savings into their dream home renovation, only to watch it go up in flames before completion. It’s a devastating reality for far too many. From 2017 to 2021, local fire departments responded to an average of 4,440 fires annually in structures under construction, resulting in tragic losses of life…
Can a Building Be Occupied During Construction?
Although home renovations have dropped in 2024 compared to last year, renovation spending is on track to reach $450 billion this year. Some of these renovations are small-budget remodeling projects, while others involve full-blown structural changes. On the commercial side, property owners and tenants are reimagining offices to accommodate flexible and agile workspaces, digital integration,…
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…
Builder’s Risk Insurance in Arizona: Everything You Need to Know
Arizona is currently experiencing unprecedented growth. Queen Creek and Maricopa, both in the Phoenix metropolitan area, are two of the fastest-growing cities in the US. All of this growth means more construction and, for insurance agents and brokers, more clients looking for competitive Builder’s Risk (BR) policies designed for the Arizona market. So, with more…
Construction Pollution: 4 Sources Job Sites Need to Prepare For
When it comes to pollution events, most people think of newsworthy headlines associated with pipeline leaks and corporate scandals. However, pollution often doesn’t come from these major events but from far more mundane sources. For instance, one sector that frequently runs the risk of a pollution event is the construction industry. Whether it’s an accidental…
Builder’s Risk Insurance in Texas: Protecting Your Construction Projects
Houston is the number-one city for new-home construction, according to the U.S. Chamber of Commerce, followed by Dallas in the number-two spot. The Lone Star State has also witnessed a remarkable surge in commercial real estate development in recent years, with an estimated $70 billion invested in commercial construction projects during 2022. As construction activities…
Insurance for Property Developers: A Complete Guide From Distinguished
In the sprawling expanses of modern cities and towns, the fingerprints of developers are everywhere. From towering skyscrapers to quaint residential communities, their visions transform landscapes and lay the foundation for the future. However, in the fast-paced development world, unforeseen environmental challenges can quickly lead to significant financial setbacks. That’s where Environmental and Construction Professional…
Building Success in the Bay State: The Power of Builder’s Risk Insurance in Massachusetts
In the bustling heart of Massachusetts’ construction landscape, Builder’s Risk insurance emerges as the silent guardian of every project, ensuring that risks are managed, and investments are secure. As the Bay State continues to witness a dynamic construction industry, with projects ranging from building restorations in Boston to innovative developments in Cambridge, understanding the nuances…
What is Contractor’s Pollution Liability Insurance: A Complete Guide For Brokers
Contractors deal with a lot of problems throughout their day — delayed parts, tight schedules, and fussy clients, just to name a few. However, one thing they shouldn’t have to worry about is whether they’ll lose their business over a pollution event. Unfortunately, without the right insurance, one incident of mold or historical pollution could…