The Builders Risk Program is for property owners, contractors and others responsible for insuring commercial and residential properties during ground-up construction. It features processing that lets you qualify, quote and issue with only two short screens of data entry.
- Competitive pricing and commission
- One step, online quoting and policy issuance
- No volume commitments
- A fast, cost effective way to handle small accounts – rate and issue with two short screens of data entry
- A+ rated admitted carrier
- Superior claim service
- Backed by a specialized Builders Risk group, delivering the highest level of expertise and service
- Commercial and residential new ground-up construction
- Up to 15 residential units
Coverage & Limits
- Building and structures
- 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.
- 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
- Other interests including mortgage holders, investors, etc.
- Subs and subs-subs interest covered, including materials used on the job site, installed or uninstalled
- General Liability available for building owner, provided that the owner is not the contractor/GC. General Liability not available 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
The coverage information outlined here is a guideline only. 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.
- Insurance company subsidiaries or affiliates of AIG