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Builders Risk Insurance

Whether you’re a homeowner undertaking a major renovation or a contractor managing a large-scale commercial construction project, protecting your investment during the building process is crucial. Builders risk insurance provides comprehensive coverage for buildings under construction, ensuring your project stays on track even when the unexpected happens.

What is Builders Risk Insurance?

Builders risk insurance, also known as course of construction insurance, is a specialized type of property insurance designed to cover buildings and structures while they are under construction. It provides protection against various risks, including fire, theft, vandalism, and weather-related events, ensuring that your investment is protected from start to finish.

Why Do You Need Builders Risk Insurance?

Construction projects are inherently risky, with numerous potential hazards that can lead to delays, additional costs, or even total project failure. Builders risk insurance mitigates these risks by covering the costs associated with damage or loss during the construction phase. This insurance is essential for both personal and commercial clients to safeguard their investments and ensure successful project completion.

Key Benefits of Builders Risk Insurance

  1. Comprehensive Coverage: Protects against a wide range of risks, including fire, theft, vandalism, wind, and hail damage.
  2. Financial Protection: Covers the costs of repairing or replacing damaged property, minimizing financial losses.
  3. Customizable Policies: Tailored to fit the specific needs of your construction project, whether residential or commercial.
  4. Peace of Mind: Provides assurance that your investment is protected, allowing you to focus on the successful completion of your project.

Types of Coverage Included in Builders Risk Insurance

  • Property Damage: Covers the cost of repairing or replacing the structure and materials damaged during construction.
  • Theft and Vandalism: Protects against loss or damage caused by theft or vandalism at the construction site.
  • Weather-Related Events: Covers damage caused by weather events such as wind, hail, and lightning.
  • Temporary Structures: Includes coverage for temporary structures like scaffolding and fencing.
  • Soft Costs: Covers additional expenses like legal fees, architectural costs, and permit fees that arise from a covered loss.

Who Should Consider Builders Risk Insurance?

  • Homeowners: Protect your home renovation or new construction project from unforeseen events.
  • Contractors and Builders: Ensure your commercial construction projects are covered from start to finish.
  • Property Developers: Safeguard your investment in residential or commercial developments.
  • Renovators and Remodelers: Protect extensive renovation projects from potential risks.

    Contact Us

    Protect your construction projects with comprehensive builders risk insurance. At Licato Agency, we specialize in providing tailored insurance solutions for both personal and commercial clients. Our experienced team will help you find the right coverage to ensure your project is secure from start to finish.

    Call Licato Agency today at 908-757-5500 to discuss your builders risk insurance options and get a personalized quote. Safeguard your investment and ensure the successful completion of your construction project with the right protection in place!