Contractors are primarily responsible for carrying out some form of construction, whether that entails a general task or a more specialized project. Regardless, you must ensure that projects get completed correctly, on time and within the anticipated budget. Builder’s risk insurance can help keep you on track.
Builder’s risk insurance helps contractors and individual property owners who are managing their construction projects by providing the following coverage:
New construction insurance pertains to new construction projects and can apply from the start of the project to completion.
Remodeling insurance helps cover damage to a property undergoing renovation. So, if you are remodeling a kitchen, this coverage can protect you during the process.
Installation insurance helps cover property before it gets installed into a permanent place. For example, if a contractor stores material at a job site and the materials they plan to use are stolen or damaged, this coverage may pay for recovery costs.
Premises liability insurance covers the cost of third-party injuries and damage claims related to your work, such as accidents that happen at your business or at a customer’s property.