What Does Builders Risk Insurance Cover?

September 28, 2018

Builders risk insurance is a type of property insurance that covers buildings that are being constructed. This form of insurance is a necessity because there are many things that can happen while a building is being constructed. Buildings can be damaged by natural disasters or catching fire.

Builders risk insurance covers things such as theft, fire, vandalism and wind damage. The property owner, the general contractor or custom builder may purchase the insurance. When considering insurance, it is important to know what types of Builders Risk Insurance Florida has to offer. Reimer insurance group can help you find the right insurance policy for you.

Things to Consider When Buying Florida Builders Risk Insurance:

Covered Property

You will need a policy that covers both new construction and existing structures. You will also need to make sure that the site preparation, underground pipes and excavations are covered. The contractor’s equipment and tools should also be covered.

Workers Insured

You will need to consider who will be covered by the insurance policy. Many construction documents require that the general contractors and owners be on the same policy. It is also important to note that some policies may not cover certain suppliers.

Insured Locations

Your policy should not only cover what is on the construction site, but it should also cover tools and equipment that is in transit. Additionally, your policy should cover supplies that are being produced in the plant.

Call Us Today

It can be difficult for you to find the right FL builders risk insurance policy for your situation. Fortunately, Riemer Insurance Group can help you find a policy that best fits your needs. They will answer any questions that you have about your insurance policy and make sure that your policy fits your budget.

We understand that everyone’s needs are different. That is why we will help you explore the different options that you have.