Are you renovating your business? Is any part of your premises under construction? Then you need Commercial Builder’s Risk Insurance. Commercial Builder’s Risk Insurance provides coverage for properties under construction or renovation when those items sustain physical loss or damage from a covered peril.
Builder’s Risk Insurance usually compensates against losses due to fire, vandalism, lightning, wind, and/or similar forces. It usually does not cover earthquake, flood, acts of war, or intentional acts of the owner. Coverage will usually last until the construction period is finished and covers the increase value of the project during the various stages of construction. Once the property is ready for use or occupancy, the coverage is terminated.
Builder’s Risk policies can be complicated and vary from carrier to carrier. That’s why Quest Insurance is here to help place your policy with the right carrier for you. We will measure your risks and find the best coverage options for you.
Builder’s Risk policies typically do not cover any general liability type losses at the building site.
