Builder's Risk Insurance

Colorado Builders Risk Insurance

There are multiple risks associated with construction activities. For this reason, homebuilders and other major parties involved in the construction work should have appropriate insurance coverage to protect them from the various risks involved. At Southern Colorado Insurance Center, we work with home builders and contractors to provide adequate coverage against all these risks, including the builder’s risk.

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What is Builders Risk Insurance, and Who Needs It?

When a building is under construction, or any construction project is in progress, there are several risks to which the developer, contractor, and other individuals are exposed. Consequently, the general contractor or the owner is obliged to purchase a builders insurance policy to protect the interests of all the parties involved during the construction period. Some of the risks covered by the builder’s risk insurance include:

Theft and vandalism
Damage from adverse weather conditions such as wind, heavy rain, and hail
Fire
Construction delays due to inevitable factors

Builders Risk Coverage options in Colorado can include:

Residential ground-up construction or renovations
Trusts & LLCs are eligible including Corporate Named Insureds
Up to $1 million in liability coverage
Protection class 9 & 10
Theft of building materials
Coverage A with a minimum of $50,000
Mountain & brush property eligibility
Owners acting as their own General Contractor may be considered
Reimbursement for replacement cost or actual cash value (ACV)
Property coverage to include building

What is Not Covered by the Builders Risk Insurance?

When purchasing an insurance policy, you should understand that there are limits to its coverage. Some of the excluded risks are natural disasters, such as earthquakes and floods. However, with the help of an experienced insurance agency like Southern Colorado Insurance Center, you can protect your project against such events by adding a severe weather endorsement to your coverage.

Need to Buy a Colorado Builders Risk Policy? Contact us Today

If you are looking for insurance coverage for your construction project, worry not because we at Southern Colorado Insurance Center have your back. We will provide you with the most competitive builders risk policy & coverage for your project. Please contact us today to get a free quote.