Builders Risk Insurance

Builders risk insurance protects more than just you, this also protects your clients. If you are insuring a property that you have bought to renovate and sell, then you will want a different kind of insurance than builders risk insurance. This type of insurance will be to protect the property from fire, theft, and whatever else you want on the policy, and can be difficult to get. Check with your own insurance company before you start to research others.

Builders risk insurance will often be your business insurance. If you are a builder then your business is building. Whether that is houses or commercial buildings will not matter. My insurance policy is set for 2 million liability, which covers me for more than just property damage, but if someone gets hurt because of my negligence as well. Just so you know, I am not a builder, but work in the construction market with a plumbing company. I still have insurance for repairing damages up to 2 million in case something happens to the property I am working on, which in most cases is valued at less than 2 million. If you are working on large projects you may require builders risk insurance for ten million. Another insurance you might want to have is disability insurance for you and those that work with you. Where I am from we do have workers compensation, but often small disability policies will do you much better.

Your policy will cover you for more than just two million, mine will cover me for every separate project I am own, meaning if I work on 200 houses in a year, all 200 are protected for a maximum of 2 million.