Your Frisco Builders Risk Insurance Agent
As an independent insurance agent, Parkwood Insurance can get you the best coverage for your business needs.
Builders risk insurance is essential protection for construction projects, but it is complex and often misunderstood. This isn’t surprising. There are no standardized policy forms for builders risk and coverage varies from insurer to insurer and project to project. We will work with you to get a builders risk policy that will meet your needs.
Why Do I Need Builders Risk Insurance?
When your reputation, along with the successful completion of your projects, is on the line, you want to be confident you have the comprehensive protection you need.
Whether you’re a developer, builder or contractor – you take on substantial risk with each new building project. To help protect you from potential financial losses, builders risk insurance provides property insurance for buidlings under construction as well as materials and equipment used as part of the building project.
What Does Builders Risk Insurance Cover?
Builders risk is designed to protect construction sites from loss and damage.
While exact coverage and limitations vary between providers, comprehensive builders risk policies may offer coverage for theft and vandalism, as well as additional coverage including (but not limited to) soft costs, flood, windstorm, earthquake, ordinance and law, and business income and extra expense. Policies may also cover damage to construction material, temporary structures, fencing, scaffolding, subdivision signs and landscaping.
Builders risk policies alone, however, do not typically cover liability (for accidents and injuries in the workplace).