Coverage for buildings and improvements during remodeling.
The Remodelers Risk Program is for clients who want to cover both the existing structure and the improvements to a residential or commercial property during a renovation. The program can protect property owners, contractors, receivers and others with a legal or financial obligation to insure the risk. Values can be up to $5 million.
- Quick turnaround with only two short screens of data entry
- A+ rated admitted carrier
- Competitive pricing and commission
- Superior claim service
- No volume commitments
- Backed by a specialized builders risk group, delivering the highest level of expertise and service
- Commercial and residential properties with values up to $5 million
- Properties that were in the course of construction in the past and work has been resumed
Coverage & Limits
- Existing structure and betterments
- Materials intended for installation at the job site
- Temporary structures
- Other structures being built on the site
- Coverage extensions
- Fraud and deceit - (if the insured is conned into parting with covered property) up to $50,000
- Limited fungus - arising out of a covered peril, up to $15,000
- Soft costs - covering non-materials or labor expenses that occur as a result of a covered loss, including such things as financing, fees, taxes, etc.
- General Liability avaliable for building owner, provided that the owner is not the contractor/GC. General Liability not avaliable in NY, DE, KY, FL. Up to $1M / $2M limits.
- Expediting expenses - covers additional expenses incurred to meet a contractual time frame, up to $10,000
- Expenses to re-erect scaffolding - up to $15,000
- Ordinance or law - covers additional expenses associated with complying with a law change when rebuilding after a covered loss, up to $500,000
- Blueprints and construction documents - pays to replace or restore if lost due to arson, theft or vandalism, up to $20,000
- Reward program - up to $10,000
- Sewer back up - up to $10,000
- Temporary storage location at $25,000 - with higher limits available
- In-transit at $15,000 - higher limits available
- Trees, plants and shrubs being planted or installed
The coverage information outlined herein is a guideline. Please refer to the actual policies for full terms, conditions, exclusions, and limitations. In the event of a conflict between this document and the actual policies, the policies will control.