Why You Need Builder’s Risk Insurance
1.Property insurance policies are renewed annually; they are not structured to provide consistent or guaranteed coverage levels for multi-year construction projects.
2.A stand alone builder’s risk policy can provide contractors, and/or the building owner, with important protections that are not typically contained in the property insurance policy.
3.A builder’s risk policy also provides property insurance coverage for the entire duration of a project.
Who Should Consider Builder’s Risk Insurance?
There are a number of parties involved in a new construction project. Each party has an interest in the project, and might consider builder’s risk insurance. The contractor, project manager, and building owners all have interests that need to be protected.
A builder’s risk policy can be tailored to provide soft costs, including additional advertising expenses, interim interest expenses on a construction loan, project refinancing costs and legal fees. Through project-specific and appropriate coverage, stand alone builder’s risk policies can protect the financial interests of both the project owner and the contractor
A Few Reasons Why Phoenix Homeowners Association Insurance is right for your business
- Competitive Pricing - premium discounts and policy dividends available
- Cash Flow Assistance - flexible payment plans and low minimum premiums
- Stability and Dependability - financially strong with many years of experience
- Fair & Efficient Claim Handling - three point contact helps manage care and control costs
- Anti-Fraud Programs - our carriers investigators have saved tens of millions of dollars
- Loss Control Support - Online resources help you manage risk and contol injuries
- Get a quote online or call us to speak to one of our licensed representatives. Get the help you need and learn more about the benefits and features our customers enjoy