Builder’s Risk Coverage Uniondale, NY (516) 888-1901

 

Builder’s Risk Coverage

Builder’s risk insurance, also known as Course of Construction, is a type of policy that protects an insurable interest during construction, repair or renovation. During the process of construction, an owner, general contractor and subcontractor have invested labor, materials and funds. If that property is damaged or destroyed before completion, these folks will have to take a financial loss. Builder’s Risk Coverage Uniondale, NY will protect your investment up to the terms of the policy.

What does a Builder’s Risk Policy cover? What is not covered?

This policy covers the building and insured area during construction as well as the materials on-site waiting to be installed, the equipment being used in construction and invested labor and deposits. For commercial buildings, loss of rental income can also be included. Damage occurring from events like lightening, hail, fire, theft or vandalism are covered while loss from mechanical breakdown, employee theft, government action, water damage or contract penalty are not covered. A vital exclusion to note: damage resulting from defective design, planning, workmanship, and materials will not be covered.

Builder’s Risk Insurance Cost

A builder’s risk policy will typically cost one to four percent of the construction budget, though it varies based on the coverage you need, length of time and any exclusions listed on the policy. Typically, coverage terms are for three to twelve months.


COMPANY NAME: Smart Services Junction Inc |Construction Contractor Insurance Uniondale

LOCATION 626 RXR Plaza West Tower 6th Floor Uniondale, NY 11553 United State

CALL US (516) 888-1901

MARKETING TEAM DIGI ERA PRO 

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