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Builder’s Risk

Construction

Builder's Risk

Hugh Wood United States has developed a proprietary builder’s risk insurance program, which offers comprehensive protection to contractors during a construction project.

Builder’s risk insurance is a specialized type of property insurance that covers the equipment and property related to the building under construction.

Furthermore, it provides coverage for materials while in transit or during construction. Coverage typically lasts until the end of the construction project.

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coverage

Some coverage highlights include:

  • Coverage for materials that are installed or uninstalled
  • Materials in transit or being stored off-site
  • Loss of Rental Income if completion of the project is delayed by a claim
  • Coverage for the owner, general contractor and all tiers of subcontractors
  • Permission to occupy
  • Ability to increase sublimits based on specific project requirements

Builders Risk Coverage can be offered on a project specific policy or reporting form.