Whether you are a contractor building a dream home or a large construction firm, it is essential to protect your project from loss during the course of construction. Purchasing a builders risk policy is a wise decision as you consider obtaining business insurance in Caldwell New Jersey.
Why Do You Need It?
Builders risk insurance coverage protects property owners and builders for structures and projects as they are being built. Whether it is new construction or remodeling work, you can be confident of loss protection up to the boundary covered and of keeping your project moving forward. If you have assets and building materials stored at your site, an off-site storage area or in transit, these can also be covered.
Coverage to Consider
Once you determine the basic insurance you need to protect your project, you can decide on various policy options that are available. Some of these include:
- Destruction of the structure or building materials by fire
- Damage due to flood, windstorm or lightning
- Loss from theft or vandalism
- Damage caused by vehicles such as aircraft
- Losses caused by delays or changes to regulations and laws
There is risk from the beginning to the end of a construction project, but by purchasing business insurance in Caldwell New Jersey, you can be assured of a builders risk policy that will provide protection from negative events as well as greater peace of mind.