Builders Risk - Multiple Projects
Developers, Generals building 5 or more houses per year and Builders of Large Projects
- The Builders Risk Coverage Form can be written on a blanket basis to provide coverage for residential and commercial structures with values up to $10 million (more with underwriter approval). The Builders Risk Plan is flexible -- specially trained underwriters are available to assist with coverage for all structures being built in a policy year with a maximum limit per structure and a total limit for all structures or a single limit covering all structures. There is a deposit premium based on that coverage and the policy is audited at the end of the term by physical audit or, in some cases, a voluntary paper audit. The policy limit(s) and premium is then adjusted based on the actual at risk completed value exposures. Call for assistance. All policies are subject to certain underwriting guidelines and restrictions.
- Builders must have two years experience unless otherwise qualified. Three years experience is required when requesting coverage for commercial structures with total estimated completed values greater than $3,000,000 each.
- These policies can also include soft costs such as increased interest rates, loss of rents and other items. The policy does include profits.
