Builders Risk in Cranston, RI
When starting a new construction project, protecting your business’s financial interests is essential. Builders risk insurance is a crucial component of sufficient risk management and loss control measures, with policies designed to financially safeguard your property, materials and equipment while working on a job site.
What Is Builders Risk Insurance?
Builders risk insurance can provide coverage for tangible assets involved in new construction. Sometimes referred to as course of construction insurance, it can also cover projects involving existing buildings that are being renovated or otherwise worked on. This type of policy can financially protect against many common incidents, including fire, theft, vandalism and certain types of severe weather.
Who Needs Builders Risk Coverage?
At Cormack-Routhier Agency, Inc., our knowledgeable and experienced team can help procure personalized policies for many businesses that may be in need of builders risk coverage, such as the following:
- General contractors and subcontractors
- Property owners and developers
- Homebuilders and remodelers
Whether you’re constructing a new commercial building, renovating a home or developing a multi-unit property, builders risk insurance can help protect your financial interests throughout the course of a project.
What Does Builders Risk Insurance Cover?
Like many types of insurance, the capabilities, limitations and other details of a builders risk policy may vary, but you can generally rely on coverage to help manage losses involving the following:
- Buildings under construction
- Temporary structures (e.g., fences and scaffolding)
- Equipment, tools and machinery
- Important documents (e.g., contracts and blueprints)
- On-site materials and supplies
- Soft costs made necessary by delays
Why Choose Cormack-Routhier Agency, Inc. for Your Rhode Island Project?
Our team understands risks and requirements relevant to construction businesses in Rhode Island and will guide you through the process of securing a suitable builders risk insurance policy.
Contact us today to discuss your coverage options or compare personalized quotes.