builders risk insurance

Builder's risk insurance, also known as "Course of construction" is a specialized form of insurance designed to insure buildings or projects against repair or replacement costs while they are under standard commercial property insurance policies were not designed to cover buildings in the course of construction hence the need for builders risk policies. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. These projects are classified as either a residential or commercial risk. Builders insurance policies limit coverage to losses that occur after construction begins and before construction is completed. The coverage limit is the contract value of the completed project. Building coverage also includes owned personal property used to service or maintain the premises and the building. Builder's risk policies typically exclude the...