Protect your construction projects, vacant properties, and contracting business with our comprehensive insurance solutions, including Builders Risk, Vacant Property, and General Contractors Liability coverage.
Protect Your Project, Your Property, and Your Business
Whether you’re a seasoned general contractor, a property owner embarking on a new build, or a real estate investor managing a vacant property, having the right insurance is crucial. Unexpected events can lead to significant financial losses, project delays, and legal challenges. Our specialized insurance solutions are designed to provide the protection you need for every stage of your project and property ownership.
Builders Risk Insurance: Safeguarding Your Construction Project
Also known as Course of Construction insurance, Builders Risk insurance is a specialized property insurance policy that protects buildings and structures while they are under construction or undergoing renovation. This coverage is essential for anyone with a financial interest in the project, including general contractors, property owners, and developers.
What Does Builders Risk Insurance Cover?
A Builders Risk policy typically provides “all-risk” coverage, meaning it covers damage from any cause not specifically excluded in the policy. Common covered perils include:
- Property Damage: Coverage for the building or structure itself, as well as materials, fixtures, and equipment to be permanently installed.
- Theft and Vandalism: Protects against loss or damage due to theft or vandalism at the construction site.
- Fire, Windstorm, and Hail: Covers damage from these common weather events and fire.
- Collapse: Protection in the event of a structural collapse during construction.
- Debris Removal: Covers the cost of clearing debris after a covered loss.
- Materials in Transit or Stored Off-Site: Can be extended to cover materials in transit to the job site or stored at a different location.
What’s Not Typically Covered?
It’s important to note that Builders Risk insurance does not cover:
- Damage from faulty workmanship, design errors, or poor materials.
- Employee injuries (covered by Workers’ Compensation).
- Liability claims for bodily injury or property damage to third parties (covered by General Contractors Liability insurance).
- Certain natural disasters like flood or earthquake, though these can often be added as endorsements.
Who Needs Builders Risk Insurance?
- General Contractors and Subcontractors: To protect the project, materials, and their financial investment.
- Property Owners and Developers: To protect the value of the new construction or renovation.
- Lenders: Lenders often require this coverage to secure a construction loan.
Get a Builders Risk Quote
We can help you secure a customized Builders Risk policy for residential and commercial projects. Contact us today for a free quote.
Vacant Property Insurance: Protection for Unoccupied Structures
When a property is unoccupied for an extended period, it faces a unique set of risks that are not covered by a standard homeowners or commercial property policy. Vacant property insurance is designed to protect your investment during periods of vacancy, such as when a property is for sale, between tenants, or undergoing extensive renovation.
Why is Standard Insurance Not Enough?
Most standard insurance policies have a “vacancy clause” that voids coverage after a property has been unoccupied for a certain period, typically 30 or 60 days. This is because vacant properties are at a higher risk for vandalism, theft, undiscovered water damage, and other perils.
What Does Vacant Property Insurance Cover?
Vacant property insurance is a specialized policy that can provide coverage for:
- Property Damage: Covers the physical structure from covered perils like fire, lightning, windstorms, and hail.
- Vandalism and Malicious Mischief: Protects against intentional damage to the property.
- Liability: Can provide premises liability coverage, which protects you if someone is injured on the vacant property and you are found legally liable.
- Theft: Protects against the theft of fixtures, appliances, or other items from the property.
Who Needs Vacant Property Insurance?
- Landlords: When a rental property is vacant between tenants.
- Homeowners: When a home is empty while it is up for sale.
- Real Estate Investors: When a property is awaiting renovation or is part of a real estate portfolio.
- Estate Managers: For properties that are vacant during the probate process.
Get a Vacant Property Quote
Don’t let your investment go unprotected. We can help you find a vacant property insurance policy that fits your needs and provides peace of mind. Get a free quote today.
General Contractors Liability Insurance: Your Business’s First Line of Defense
General Contractors Liability insurance, often referred to as Commercial General Liability (CGL) insurance, is a fundamental policy for any contracting business. It protects you from financial losses resulting from third-party claims of bodily injury, property damage, and personal and advertising injury arising from your business operations.
What Does General Contractors Liability Cover?
- Bodily Injury: Covers medical expenses and legal costs if a third party (e.g., a client, visitor, or passerby) is injured at your job site and you are found to be responsible. For example, if a client trips over your equipment and breaks their ankle.
- Property Damage: Pays for damages to a third party’s property caused by your work. For example, if a construction vehicle damages a client’s driveway or your crew accidentally breaks a window.
- Completed Operations: Protects you from claims of bodily injury or property damage that occur after a project is finished.
- Personal and Advertising Injury: Provides coverage for claims of libel, slander, or copyright infringement in your advertising.
- Legal Defense Costs: Even if a claim is baseless, this coverage helps pay for your legal fees, court costs, and settlements.
Builders Risk vs. General Contractors Liability: Understanding the Difference
It’s crucial to understand that Builders Risk and General Contractors Liability policies cover different risks.
- Builders Risk: This is a property insurance policy that protects the physical structure under construction and the materials. It’s about protecting the project.
- General Contractors Liability: This is a liability policy that protects your business from lawsuits and claims from third parties. It’s about protecting the business.
For most construction projects, both policies are essential for comprehensive protection.
Get a General Contractors Liability Quote
Protect your business from costly lawsuits and contractual obligations. We offer competitive General Contractors Liability insurance quotes to help you secure the coverage you need. Contact us today to get started.
