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Construction


Construction


Buildings are subject to many different risks while under construction. They may catch fire, be damaged by high winds, or fall victim to other force majeure. A principle of common law is that any new construction or other improvement to land becomes property of the owner of the land - the title holder - once there has been an "improvement" to the owner's site. The general contractor may be responsible for any losses caused by his own negligence, but the owner is responsible for most other losses. Builder's risk insurance indemnifies against some of these losses. Coverage typically indemnifies against losses due to fire, vandalism, lightning, wind, and similar forces. It usually does not cover earthquake, flood, acts of war, or intentional acts of the owner. Who buys builder's risk insurance? The owner of the building or the general contractor. Builders Risk Insurance is designed to protect you, your family, and your home from a broad range of potential hazards you face in the construction of your new home. We recognize that each construction project carries its own set of challenges, which is why we believe in a one-on-one consultation. We will ask a broad range of questions about your home construction to better understand the risks you face, as well as the assets you are looking to protect, and offer clear advice in selecting a policy from a reputable and service oriented excess casualty insurer. Our approach is very different from what you may experience from a direct underwriter, especially one who provides quick quotes online. We build close relationships with our clients to allow us to foresee their ever-changing needs. Please give us a call for a free consultation.


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