While we know that existing buildings are at risk of receiving damages through natural disasters,
accidents, vandalism and more, buildings under construction aren’t able to readily withstand the
damage that existing buildings often experience. Builders risk insurance policy mitigates the
likelihood of losses during a building’s construction phase. As it provides protection to the
building being constructed, it allows property owners request of this policy as well as more
control over their own property. If you aren’t sure a builders risk insurance policy is right
for you, then contact R.H. Nicholson & Company to have an insurance agent thoroughly review your
current policy and provide more effective policies that keeps you financially covered.
What Does Builders Risk Insurance Cover?
Builders risk insurance, also known as “course of construction” insurance, has the ability to
cover a contractor’s interest in any materials before they are installed as well as materials
being sent over for the intended job. Additionally, the property value during construction of
the building will be covered up until completion and landowner acceptance.
If your insurance builders risk insurance policy doesn’t cover the attributes that you require,
here are a few more aspects that our insurance agents at R.H. Nicholson & Company can add to
your personalized builders risk insurance policy:
- Employee theft
- Damages beyond the estimated value of construction
- Law or ordinance changes that influenced losses
- Earthquake damage
- War, nuclear hazards, actions by civil authority losses
Builders Risk Insurance for Northern Virginia Businesses
As most builders risk insurance policies don’t end until the building has been completely
constructed, choosing the right policy is crucial prior to beginning your construction project.
At R.H. Nicholson & Company, our professionally experienced staff understands all the risks
involved during a buildings construction for various areas throughout the Northern Virginia
area. We have the ability to develop a comprehensive insurance policy that satisfies your needs
best.
Let us help you stay prepared and protected! Contact us at (703) 261-6100 to learn more about how
a builders risk insurance policy will help you.
