Put These Beneficial Builder’s Risk Extensions to Use
Builder’s Risk insurance is coverage that protects buildings as they are undergoing construction. This coverage protects insured against damage or loss of equipment, materials, fixtures, and more when being constructed or renovated. Every building site is unique, which is why there is no single standardized Builder’s Risk coverage. When you’re considering getting this coverage, keep these Builder’s Risk insurance coverage extensions in mind.
- Delay in completion coverage
Some things don’t always go to plan. This coverage insures against loss of income or specified additional expenses that result from a delay in the completion of a construction project.
- Faulty workmanship coverage
This insurance coverage helps to cover damage to property caused by an insured peril that occurs because of faulty workmanship.
- Others’ property
This covers items supplied by others for which the named insured is responsible for.
- Debris removal
If a covered peril brings debris onto your job site, you can turn to your Builder’s Risk insurance policy for help removing it.
- Water intrusion
This coverage is for water intruding on a structure during construction not resulting from another covered peril such as a flood or storm.
These diverse coverage extensions help your project to avoid risk. Have questions regarding your builder’s risk insurance? Talk to the team at Nahai Insurance Services! We can help you secure the right coverage for your needs today.