There is always construction activity taking place across the West Hartford, CT area. As a commercial company handling construction, you need to ensure you have adequate insurance protection to help you each step of the way. When you are talking about insurance for a builder, the top one that should come to mind is builders’ risk insurance. What is the type of policy and why is it so important to your company?
Builders risk insurance is an essential piece of the puzzle when talking about doing construction projects in a safe way. With builders risk insurance, you are going to have different forms of coverage depending on the insurer that you purchase from. There are to standard policy forms or anything like that.
The great thing about builders risk insurance, though, is that when you plan out your coverage appropriately, you will be safeguarded from losses on the construction site. Builders risk insurance is specialized to help protect losses due to fire, lightning, as well as other perils. This can help with the project cost as well as employee liability for workers on-site. There are other soft losses that you can get coverage for with this policy, including loss on the job site due to theft, and even cost to upgrade the site to meet more "green" requirements.
Again, though, you need to plan appropriately when you are talking about builders’ risk insurance. Since there are no standard forms, what one insurance company offers will vary widely from what another will offer you. Working with an agency such as ALLConnecticut Insurance is critical. Reach out today to start to get a better handle on builders’ risk insurance and how it can help your company stay safeguarded once construction begins.