Builder’s Risk Insurance in Fort Worth, TX
Commercial contractors require robust insurance coverage that can help financially protect both their business assets and ongoing projects. This means their property insurance should cover not only items located at their office or headquarters but also materials and equipment stored at job sites. To verify this level of protection, builders risk insurance can be an essential addition to their policy.
What Is Builders Risk Insurance? 
A contractor’s primary responsibility is to carry out construction work, whether through general contracting or a specialized trade. Their main objective is to verify that the project is completed on time, accurately and within budget.
However, unforeseen issues can arise during any phase of the operation, potentially jeopardizing the contractor’s ability to meet deadlines and financial targets. These disruptions can lead to project delays and significant cost overruns. In such cases, builders risk insurance can offer crucial financial protection, helping contractors safeguard their own interests as well as those of others involved in the construction process.
What Does Builders Risk Insurance Cover?
Builders risk insurance supports contractors and property owners overseeing construction projects. Coverage options vary depending on the project type and needs, including:
- New construction coverage can financially protect new builds from the start of construction until completion.
- Remodeling coverage can help financially cover damage to properties undergoing renovations, such as home additions or interior upgrades.
- Installation coverage applies to materials and equipment stored on-site before installation. If these items are stolen or damaged, this coverage can help with recovery costs.
Some policies may also include premises liability coverage, which can help protect against third-party injuries or property damage occurring on the jobsite. However, this may also be covered under other liability policies in your commercial insurance policy.
Learn More
For builders risk insurance near you, contact Cornerstone Independent Insurance Agency LLC.