Looking for Builders Risk Insurance in Irvine?
Builders Risk Insurance, also called Course of Construction Insurance, is designed to protect buildings while they are being constructed, renovated, or substantially remodeled. It can provide coverage for the structure itself as well as eligible materials stored at the site or being transported for installation.
Determining Coverage & Policy Limits
The amount of coverage should reflect the expected completed value of the project, including materials and labor costs but excluding the value of the land. Your construction budget can be a useful starting point when determining an appropriate policy limit.
Policy Terms & Flexibility
Builders Risk policies are commonly available for terms such as three, six, or twelve months. If construction takes longer than expected, an extension may be available depending on the insurer and policy terms.
How Much Does Builders Risk Insurance Cost?
The cost of Builders Risk Insurance varies based on factors such as the project value, type of construction, location, project duration, and coverage selected. The policy may provide protection against a range of covered causes of loss.
Commonly covered events may include: Fire, Wind (subject to applicable limitations), Theft, Lightning, Hail, Explosion, Vandalism, and Certain vehicle or aircraft damage.
Coverage varies between policies, so it is important to understand the exclusions, limitations, deductibles, and conditions before selecting a policy. Collapse coverage may also be limited depending on the circumstances.
Common exclusions may include: Earthquake, Employee theft, Certain water damage, Weather-related damage to property left in the open, War, Government action, Contract penalties, Voluntary parting, and Mechanical breakdown.
Another important limitation can involve losses arising from faulty design, planning, workmanship, or materials. Earthquake and flood coverage may be available separately in certain locations.
How to Get Started on Your Builders Risk Quote
If you have a construction or remodeling project in Irvine, Pascal Burke Insurance Brokerage can help you explore Builders Risk coverage suited to the project. Call our office or complete the quote form below with some basic project information to get started.
Let’s Find the Right Coverage
Click below to visit our quote page, share a few details about your business, and let our team help you find suitable coverage.
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