Post Topic
Construction Insurance
Does Builder’s Risk Coverage Differ for Residential vs. Commercial Construction Projects?
Builder’s Risk insurance is critical for residential and commercial construction projects, as it covers the property during construction or renovation. While Builder’s Risk policies for both types of projects offer similar coverage, such as insuring for damage to the structure from fire, theft, and other covered perils, there are important distinctions between residential and commercial…
Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?
Builder’s Risk Insurance covers property during the course of construction, whether it’s a new build or renovation. One common question is whether the contractor and the property owner can be named insureds on the same Builder’s Risk policy. The answer lies in both parties’ financial interest in the property and how that impacts the insurance…
Builder’s Risk Insurance in Tennessee: A Broker’s Guide
The state of Tennessee has become attractive to new residents for its lower cost of living, access to nature, and accessibility to affordable housing. Its popularity has led to an increase in demand for construction of new projects as well as remodeling. In fact, employment in the construction industry increased in 62% of metro areas…
Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo
We sat down with Distinguished’s Builder’s Risk insurance expert, Susan DeCarlo, to discuss common factors that can lead to declinations in our program, how to avoid them, and key risk considerations. Backed by our specialized Builder’s Risk group, we deliver the highest level of expertise and service to provide the best coverage solutions for your…
Builder’s Risk Insurance in Alabama: A Broker’s Guide
In a state known for its unpredictable weather and economic resilience, Alabama’s construction projects face unique challenges. From hurricanes on the Gulf Coast to rapid urban development in cities like Birmingham and Huntsville, the need for comprehensive Builder’s Risk Insurance has never been more critical. To address these diverse risks, Distinguished’s Builder’s Risk Program offers…
Builder’s Risk Insurance in Michigan: Online Quotes, Coverages, and Costs
Construction is on everyone’s mind in Michigan right now. Whether it’s the work going into revitalizing downtown Detroit or the soaring costs of home prices across the Wolverine State, a lot of time, money, and thought is going into construction work across the state. However, alongside all of this construction comes large financial risks. Under-construction…
Builder’s Risk Insurance in Georgia: Coverages, Costs, and More
From Atlanta’s bustling skyline to charming coastal communities like Savannah, Georgia’s construction sector is thriving. However, with growth comes risk, and that’s where Builder’s Risk insurance plays a critical role. Whether your clients are embarking on a new construction project, renovating an existing structure, or making betterments to a property, the importance of having the…
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,…