Builder’s Risk Insurance

Safeguard Your Construction Projects

Secure Your Construction Project with Builder’s Risk Insurance

A basic builder’s risk insurance policy is designed to provide property damage coverage for new buildings or renovation projects during the construction phase.

Whether contractors and project owners are launching a new construction project or engaging in extensive renovations, Aster National Insurance Group is dedicated to guiding them through the process of securing builder’s risk insurance coverage that is tailored to protect their projects from property damage. Builder’s risk insurance offers the financial safeguard necessary to proceed with confidence from start to finish.

What Does Builder’s Risk Insurance Cover?

Here’s what a basic builder’s risk insurance policy typically covers:

Building and structures under construction: This includes the physical structure that’s being constructed, renovated, or repaired. It protects against damage to the building itself due to a wide range of risks, including fire, wind, vandalism, and more, up to the limits specified in the policy.
Materials and supplies: Builder’s risk insurance covers materials, supplies, and equipment located at the construction site. This encompasses everything from lumber, bricks, and steel to fixtures and fittings that will be permanently installed in the finished structure.

With this insurance in place, you can confidently navigate the challenges of construction knowing that your investments are secure. Contact us today to learn more about how our builder’s risk insurance can protect your construction projects.

The Critical Role of Builder’s Risk Insurance

Without builder’s risk insurance, your projects are exposed to significant financial risks. If the building or structure under construction is damaged by fire, wind, vandalism, or other covered events, you would need to bear the full cost of repairs or reconstruction, which can be exorbitant. Additionally, any materials, supplies, and equipment on site would not be covered. This lack of protection could lead to severe financial strain, project delays, and potential business failures.

Frequently Asked Questions

Who needs builder’s risk insurance?

This type of coverage is essential for anyone with a financial interest in construction projects, including contractors, project owners, and property developers. It’s particularly crucial for projects under construction or undergoing significant renovations.

How long does the coverage last?

Coverage can last for the duration of the construction project, starting from the date of groundbreaking to the completion of the project. Policies can be adjusted to accommodate the project timeline.

How do I get started with builder’s risk insurance?

Getting started is easy. Contact us at Statewide Commercial Insurance Brokers to discuss your project details. Our team will guide you through the process, helping you select and customize the coverage that’s right for your project needs.

Are there any exclusions I should be aware of in a builder’s risk insurance policy?

Yes, these policies may have exclusions, such as damage due to normal wear and tear, intentional acts, and certain natural disasters like earthquakes or floods. It’s essential to review the policy carefully to understand any exclusions that may apply.

TESTIMONIAL

Honest Reviews from our Client

Always helpful, friendly and efficient. Aster National has been our broker for years and our agent always gets us the best rates! We look forward to working with you for years to come!

Everyone I talk to at Aster is very helpful. I never get the run-a-round or sit on hold forever. Customer service as it should be while other businesses avoid customer contact.

Aster is the best insurance company! Personnel are always super helpful and very nice. I highly recommend this company. Always reasonable pricing.

Very competitive rates for all my commercial insurances. Very convenient and quick response when requesting certificates of insurance. I would definitely recommend their services.

My company has been working with Aster National for a few years now and all I can say is that they make everything easy and they are helpful with any question I may have. Highly recommend !!! 5 stars!

We have been doing business with Aster for years. Agents are prompt to respond, courteous and always looking out for the better needs of my business.

Additional Coverages

General Liability Insurance

General Liability Insurance keeps your business safe from financial trouble if someone gets hurt or their property gets damaged because of your business. It covers legal fees, medical expenses, and damages. Perfect for any business wanting peace of mind against unexpected claims.

Worker's Compensation Insurance

Mandatory in most states, this insurance covers medical expenses and a portion of lost wages for employees who get injured or sick from their job.

Commercial Property Insurance

Plan for the unexpected. Protect your company’s physical assets, such as its building, and contents, including inventory, furniture, and equipment with commercial property insurance. It covers losses should your business have a fire, explosions, burst pipes, storms, theft, or vandalism.

Protecting What Matters Most to You

Quality Insurance Coverage from a Trusted Agency

Enjoy peace of mind knowing we’ve got you covered.