Builders Risk Insurance in Paso Robles CA & Atascadero CA
Builders Risk Insurance
Protection for New Construction, Remodeling, and Renovation
Most people are familiar with the concept of insuring commercial or residential property, but many aren’t aware of the distinction between that and insuring property under construction. At Ted Hamm Insurance, we understand the difference and specialize in helping our clients protect their building projects.
What is Builders Risk Insurance?
Buildings and properties under development are exposed to a wide range of exposures that may not affect completed properties. For example, they’re more exposed to weather damage from wind, hail, or rain, as well as threats of theft and vandalism. Builders Risk Insurance provides financial security for a project against these types of risks and more through the course of construction.
The policies we write at Ted Hamm Insurance can include the following:
Structural Coverage: Buildings and other structures associated with the project are typically the largest financial exposure
General Liability: Construction means people working in an environment where they’re at increased risk for injury
Equipment & Materials Coverage: In addition to what’s being built, the equipment and materials being used for construction are also at risk for damage or loss
There are many factors that go into crafting the right Builders Risk policy for a particular operation. Details such as time and duration of construction, the location of the build site, and the type of property can affect what type of coverage might be deemed necessary as well as your rate. Our agents will work with you to assess your individual needs and find a plan that meets those needs within your budget.
Who Needs Builders Risk Insurance?
Usually, Builders Risk Insurance is established in the name of those funding or managing construction, but may also be obtained by the landowner or others involved with the project. There is very often more than one party named on a Builders Risk policy, especially in cases of complex tasks involving architects, engineers, and other specialized professionals who may not otherwise be insured.
The Right Partner
When purchasing Builders Risk Insurance, it’s clear that you need to work with an experienced agent that understands how to protect construction properties and who will carefully consider the specifics of your project to ensure you get the right coverage. When you contact Ted Hamm Insurance, our agents will give you exactly that. So give us a call today and we’ll help secure your property from start to finish.