Online construction insurance specialists Builder’s Risk has announced new builders risk insurance packages available to protect construction projects in every state in the USA. The company only works with Class A insurance providers, including all leading providers of construction policies.
For more information please visit the website here: https://buildersrisk.net
Their specialist brokers have many years of expertise and state that they search the market for a specific quote tailored to each project. Their website carries an easy-to-use online form to generate an immediate quote and their agents are available 24/7.
Builder’s Risk is based in Chicago and the company has over 20 years of experience in providing business risk insurance. As specialists, they work with over 15 class A insurance carriers to search out the best coverage and premiums available, backed by excellent customer service.
Builders Risk Insurance, also known as Course of Construction Insurance, is specially designed to protect commercial and residential buildings and structures that are being built or renovated. Not only does it cover the cost of construction, it can also cover the equipment used at the project with every policy tailored to the customer’s requirements.
Builders Risk Insurance can include protection for materials or equipment added to the property, such as elevators and HVAC systems, labor costs and expenses, as well as temporary structures such as scaffolding and even landscaping. The insurance can also include reimbursement of lost profits, the cost of contamination and debris clear up after an accident or weather damage.
On average, the policy costs can vary between 1% and 5% of the total project value, depending on project type, construction type, policy term, and location. The single biggest factor affecting the cost of the policy will be the cost of the project.
Other factors include the type of material used in the construction, with frame structures being more susceptible to fire and wind damage than metal and masonry construction. Location is also a key factor with coastal locations in hurricane zones being particularly high risk.
The length of time that cover is required will also influence the cost. Builders risk policies are always short-term and can be bought in three-month units, with many customers choosing to renew a policy if the project looks likely to overrun the original estimate.
Those wishing to find out more can visit their website on the link provided above.
Release ID: 89013522