Builders Insurance in College Station Texas

Builders insurance is something that every builder and project investor needs to protect their investment. From groundbreaking to the moment of completion, it is impossible to predict what perils could affect your construction project. This is why it is essential to have the right construction risk insurance.

Whether you are faced with employee injuries, unexpected weather disasters, or even theft, your comprehensive builders liability insurance policy will protect all parties throughout the lengthy construction process.

Damage at the Construction Site

The primary benefit construction risk insurance provides is damage coverage at building sites caused by a number of named perils. These usually include damages caused by fire, hurricane, tornado, lightning, hail, and other weather events or natural disasters. Many policies also cover wind damage if it is not near the Texas coast. Floor damage is usually not covered under a basic builders liability insurance policy and must be purchased through the National Flood Insurance Program (NFIP).

Theft and Vandalism

During a construction project, protecting the site along with your materials and equipment can become quite a challenge. Should you be a victim of malicious vandalism or the theft of building materials whether stockpiled at the site or already installed, your builders insurance will cover the loss.

Some policies also cover damage to or theft of tools, equipment, and work vehicles. Be sure to confirm the details about what type of theft is covered as many policies exclude employee theft or the theft of tools, which must be separately covered.

On-Site Accidents and Injuries

Construction sites can be dangerous places, even for those properly trained to work at such sites. Thankfully, construction risk insurance covers you for accidents that occur at the construction site. Whether an employee is injured or someone visiting the site has an accident, the right builders liability insurance policy will cover these incidents, protecting contractors and project owners.

Certain Legal Fees

In addition to the above benefits, most builders insurance also covers the legal costs that may arise when covered perils affect the project. This may include lawsuits due to missed deadlines resulting from damage to the project during construction as well as other legal action against a builder or owner due to a covered loss. Clarify with your agency about what specific legal fees your policy covers and whether you need additional legal liability coverage. Your general business liability insurance may provide some benefit against legal action.

Although every policy is different and is written based on the individual project, construction risk insurance is essential and something that every contracting company and project owner should carry. Considering the many things that could go wrong during a construction project, comprehensive builders insurance and builders liability insurance offer important financial and legal coverage. This essential protection will see your projects through to completion, regardless of what may occur during the process!

Need Builders Insurance In College Station Texas?

Service Insurance Group Has Construction Risk Policies!

Call (979) 217-6820!