Posts Tagged ‘builders risk insurance’

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…

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…

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…

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…

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,…