Insurance & Risk Management Solutions
If you’re expanding or rennovating an existing facility, or constructing a new building, you should consider investing in a Builder’s Risk policy. A Builder’s Risk policy can cover the damage to or loss of property (or the portion of said property) that is under construction. It can also cover building materials and supplies, fixtures, machinery, and equipment used to service or maintain the building, and any other property intended as a permanent part of the final project.
Standard Property policies will only cover existing real property, not real property in the course of construction.
And, if you’re a contractor, a General Liability policy will not cover property in your care, custody or control, and it will not cover damage to your own work.