Beneficial Builder’s Risk Coverage Extensions to Consider
Builder’s risk insurance is a type of insurance coverage that provides protection for builders during the course of construction. This coverage protects insureds against damage or loss of equipment, materials, and fixtures that are used during the construction or renovation process. It’s important for workers to obtain the right coverage so that they are protected throughout. Take a look at beneficial coverage extensions to consider.
Faulty Workmanship Coverage
This cover provides protection when there is damage to property caused by an insured peril that results from faulty workmanship.
Delay in Completion Coverage
Delays happen. This coverage insures against income loss or specified additional expenses, such as additional interest charges and advertising costs, that are a result of a delay in completion.
This coverage covers the cost of removal of debris when a covered property is damaged by a listed peril.
Expediting and Extra Expenses
This cover pays for additional costs in excess of normal operating expenses that are incurred to continue operations while its property is being repaired or replaced after having been damaged by a covered cause of loss.
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.