Do you buy ugly houses? If you’re an investor that is in the business of buying distressed properties or even building from the ground up, consider reaching out to Ryan Everet Insurance for your next Builder’s Risk Insurance Policy. We have the ability to offer more carriers than most independent insurance agencies in Texas with our large array of insurance companies.
Some of the most common builders risk policies come from company programs such as Travelers Construction Pak, Zurich Builder Risk, and The Hartford Builders Risk policies to name a few.
The Builder’s Risk policy provides coverage for physical damage for new construction, remodel of an existing building, and other retrofitting done to a property. These policies are short term in nature since the majority are used for investors purchasing a home to renovate and resell. As investors know, time is of the essence and no one wants to do a flip on a residential property that takes 18 months.
- Some of the features offered with a typical Builder’s risk policy may include:
- Usage of additional insureds to cover other interested parties in the transaction.
- Broad definition of what property would be covered by the policy to include permanent and temporary items, such as construction forms, cribbing, fencing, signs, scaffolding, office trailers, etc.
- Equipment breakdown to cover full testing and includes jurisdictional inspections.
- Green Building re-certification expenses are typically covered.
- Replacement cost valuation is followed when dealing with claims.
Since the needs of your next project are unique, contact us now to find out more at 940-268-5112.