You’ve been building your construction business for years. You’re proud of what you’ve achieved, and you don’t want anything bad to happen to it. You also know that in the construction industry there are always unexpected problems that come up on a project. Whether you’re creating an office skyscraper or building someone’s dream home, you need to protect yourself against potential losses due to damage, theft or loss of construction materials or other assets.
Builder’s risk insurance covers any of your construction equipment, building supplies and other assets used during new construction, remodeling or installation at a covered job site. It will protect your business against a variety of risks taken on by your company during construction or renovations. It can protect you against costly losses due to anything from vandalism and theft to damage caused by natural occurrences such as flooding or tornado’s. You can tailor these policies to include damage to construction materials, scaffolding, heavy equipment, landscaping and even signage.
To discover what kind of risk coverage your company needs, consult with an insurance provider who specializes in builder’s risk insurance before beginning any construction or renovation project. They can review your construction project and help you choose the best possible risk coverage for your company.