Builders Risk Insurance

Tri-State Insurance Agency: Builders Risk Insurance

If you’re in the construction industry – whether you are a small residential contractor or a large commercial construction firm – you need the coverage provided by a builders risk policy. A builders risk policy is designed to protect your operation during the course of construction, and we at Tri-State Insurance Agency can provide you with the policy you need. We’ve been helping builders with their insurance programs for more than 60 years.

The importance of builders risk.

A builders risk insurance policy is designed to provide coverage for the structure you are erecting while it is under construction. It can also insure materials stored on the site for future installation, as well as those being transported to the site for use. Policies can cover destruction of structures and materials by fire or vandalism, as well as theft of materials at the site awaiting installation. Flood and windstorm coverage is also available, as is coverage for losses due to changes in laws and ordinances. If delays occur due to a covered cause of loss, a builder could face penalties from financiers along with other costs, such as unexpected taxes. These “soft costs” can be written into an insurance agreement, too, which we can discuss with you in detail.

Any new construction projects, refurbishment or rehab work requires builders risk coverage to be properly protected against potential loss. Policies are available for projects that have multiple sites, and some speculative projects may qualify for commercial developers. The value of the project, your claims and performance history, and other risk factors as well as the deductibles you choose will determine the cost of a policy.

Options to consider.

Depending on which insurer writes the coverage, there are various options available – all of which we can go through with you. These options may include coverage for frame construction, scaffolding, debris removal, pollution cleanup, fire department charges, valuable papers and records coverage, and permission to occupy insurance, which allows partial occupancy while building completion continues.

Turn to the experts at Tri-State to insure your construction projects.

Tri-State Insurance Agency provides a comprehensive business insurance portfolio for companies throughout Pennsylvania, northern New Jersey and New York. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.