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A Builder’s Risk policy is designed to provide coverage for buildings while under construction. It covers the contractor’s interest in materials at the job site before they are installed, materials in transit intended for the job and the value of the property being constructed until it is completed and accepted by the owner. A policy may be written to cover the whole structure for New construction or the cost of Remodeling and Renovation projects. It can also be used to cover specific projects such as a new room addition, a deck or a remodeled kitchen.

The named insured of a Builder’s Risk policy is usually the contractor or developer of the property. However, it may be the building owner or homeowner if they are responsible for insuring the property while under construction. A mortgagee or lien holder may be added as an additional insured at no additional charge.

The standard deductible is $500. However, other deductible amounts are available and the deductible applies only once per loss. Higher deductibles will help to significantly lower your premium.

Program Highlights

Inland Marine Insurance protects goods that are on the move. This includes special types of property that are mobile, of unique value, related to transportation or communication, or otherwise considered to need special protection. For example, if your business specialty tools and equipment, inland marine insurance could be used to protect your tools and equipment. If you have high value machinery, inland marine insurance could be used to protect your equipment.

Find out more! Call us at 925-516-4700 or fill out our Contractors Insurance Request Form to get started.