Builders Risk Insurance
Builders Risk Insurance, also known as inland marine coverage, is designed to protect a person or organization’s insurable interest in materials, fixtures, equipment, and other forms of property exposed during renovations. Comprehensive policies may offer coverage for theft, vandalism, flood, windstorm, earthquake, as well as ordinance and law. This insurance should be paired with a liability policy to adequately protect from third party claims alleging negligence leading to financial damages or bodily injury.
Whether you are a homeowner contemplating a redesign or a commercial developer involved in ground up construction, it’s imperative to discuss and understand which party is responsible for protecting the physical assets before a project begins.
