What is Course of Construction?
Builders Risks, often referred to as Course of Construction, unlike many other insurance terms is pretty much what it appears to be. These Policies provide coverage for buildings during construction. It covers either the current value or the estimated completed value of the property. Occasionally, Builders Risks is written as a Property Insurance. However, it is usually considered a form of Inland Marine.
Who Needs Builders Risk or Couse of Construction Insurance?
If you or your company is doing construction or renovation via contract on a collaborative project, especially if for large time-sensitive projects where there will be multiple groups and subcontractors, then you should consider a Builders Risk or Course of Construction Insurance Policy.
Common Builders Risk & Course of Construction Coverages
✔ Builder’s Risk
✔ Commercial General Liability (CGL)
✔ Workers Compensation (WC)
✔ Umbrella Liability /Excess Insurance
✔ Employers Liability
✔ Inland Marine
✔ Contractor Default Insurance
✔ Contractors Pollution Liability (CPL)
States That We Insure
✔ Alabama ✔ Arizona ✔ California ✔ Colorado ✔ Florida ✔ Georgia ✔ Illinois ✔ Indiana
✔ Kentucky ✔ Louisiana ✔ Mississippi ✔ Nevada ✔ New Jersey ✔ New York ✔ North Carolina
✔ Pennsylvania ✔ Tennessee ✔ Texas ✔ Utah ✔ Virginia ✔ West Virginia
Safeguards machinery and tools at job sites, your storage yard, and points in between.
Commercial General Liability
This is a standard policy issued to a business to protect them from primarily liability claims of property damage & bodily harm.
Excess & Umbrella Liability
This gives excess liability coverage beyond your general liability limits. a typical GL policy may only cover up to 1 million your umbrella policy might cover 9 million or more. However, it only kicks in after the main policy is exhausted.
This is property insurance for property that is not stationary, typically construction tools and equipment, from one location to another. However, these can be more limited in the case of CCIP where the transportation is not covered only the proper while on project site.
Contractors Pollution Liability (CPL)
This protects contractors from claims or lawsuits for damages and clean-up as a result of conditions such as pollution as a result of work or operations done by or subcontracted out.
This Protects the employer/business and employee. The employee gets partial or complete coverage of medical bills from injury and a portion of lost wages. The employers get protection against lawsuits against them from employees.
Employers liability, while similar to workers compensation, however, this protects the employer from negligence on the employer’s behalf in case of a lawsuit or legal litigation from employee or worker.
Contractor Default Insurance
This is an alternative to a performance bond. It covers construction management losses due to subcontractors defaulting. Common situations covered inability to the Complete scope of work and Defective or nonconforming work.
We Work With More Than 60 Insurance Carriers Including:
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The Key to Affordable Course of Construction Insurance
We represent dozens of insurance companies with trustworthy brands you know. Our Licensed and accredited agents will guide you to a Course of Construction Insurance Policy that fits your needs. We will show you your local tailored options without bias. All you have to do is sit back and enjoy the savings.
How Do We Provide the Best Builders Risk Insurance Prices?
It’s actually quite simple. Our agents are “Non-Captive” which means that, unlike other agents who can only offer policies form one company, we can get you quotes and policies from multiple carriers and multiple insurance companies. That is how we can vow to keep your best interest in mind!