Builders Risk Insurance
Builder’s risk insurance is coverage for physical loss or damage to your company’s materials, fixtures and equipment, which are being used during construction or renovation of a building.
Why do I need Builders Risk Insurance?
Taking on a new a build or rehab can be a costly undertaking. If a loan is being used to pay for the build, the lender will require a Builders Risk Insurance policy is in place prior to funding. This protects the lender in the event of a loss. The same is true if you are in a position to cover the cost of a build or rehab yourself without the need for a lender. In this case you are insuring that in the event your project catches fire or is wiped out by a windstorm you have insurance to reimburse your losses. This coverage is extremely important. Covered losses may include:
Can I purchase Builders Risk Insurance as a homeowner?
Absolutely you can. A homeowner may act as an owner builder when building or rehabbing a home they use as their primary residence. However, it is wise to hire a credible General Contractor if you lack experience in the various aspects of construction.
We’ve made it easy to obtain this valuable coverage. Click “Get Quote” to see what it costs. If you’d like more information and prefer to speak with an agent, feel free to give us a call. We’re here to help Mon-Fri / 8am – 5:30pm PT. 818-564-4068.