-Builders Risk Insurance –
Course of Construction Insurance
Builders Risk - Course of Construction Insurance
Enjoy peace of mind and confidence knowing that your assets are well protected with specialized insurance
Understanding Builder's Risk Insurance
Builder's Risk Insurance “course of construction,” is specifically designed to indemnify against property loss and provide coverage for buildings during the course of construction. Builders Risk insurance is available to the owner of the building as well as the general contractor constructing the building. This provides financial protection against the risk of property damage on a construction site.
•Broad Form Coverage
•Projects already started
•Theft & Vandalism
Builders Risk policies with flexible coverage options to meet the special insurance needs of even the largest residential or commercial construction project. We have the ability to tailor a policy specific to your exposure.
An important exclusion: Entirety excludes coverage for damage resulting from faulty design, planning, workmanship and materials.
Coverage is needed
You should obtain Builder’s Risk coverage for the total estimated value of the completed project. In general, this amount is the selling price of the home or building subtracted by the cost of the land. Builders can also opt to include a reasonable profit in the coverage amount..
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Builders Risk Insurance Applications
Leon Levi (R.I.B LLQP)
Commercial Insurance Account Executive
INSUREIT GROUP INC
800 Denison St, Suite 200
Markham, Ontario L3R 5M9
905-752-3600 ext 513
I very often receive calls with a multitude of builders risk Insurance questions. The following are the most frequently asked questions and their answers:
How do I purchase builders risk Insurance near Toronto?
We insure builders risk Insurance for the owner and also for the commercial contracter
What determines builders risk Insurance cost?
The completed value of the building and the location of the construction site
How quickly can I obtain a builders risk Insurance quote?
That depends if all the questions on the builder’s risk Insurance application have been answered
What is a builders risk Insurance policy?
The builders risk Insurance definition is also called course of construction. It is specifically designed to indemnify against property loss and provide coverage for buildings during the course of construction
Who should get builders risk Insurance?
We provide builders risk Insurance for homeowners, builders risk Insurance for contractors, builders risk Insurance for renovations, builders risk Insurance on an existing structure and builders risk Insurance for an owner builder
Are there any conditions or builders risk Insurance requirements from Insurance companies?
The main requirements for builders risk Insurance residential are to get Insurance certificates from contractors and sub contractors. In addition Hot Works Operations Warranty – One Hour Waiting Period and Open Flame Heating Warranty are required.
When is it necessary to use builder's risk Insurance?
Builders risk Insurance in Ontario starts from the foundation until builders risk Insurance permission to occupy
What are the main builders risk Insurance exclusions?
Builders risk Insurance excludes faulty workmanship
When do I get evidence of builders risk Insurance?
Immediately after the necessary documentation has been signed and your builders risk Insurance premium has been paid.Once the Insurance documents have been signed we will then issue the builders risk Insurance binder and you can then give this binder to your finance company for the builders risk Insurance mortgage. This will add the finance company as a builders risk Insurance loss payee to your builders risk Insurance policy
Do you have builders risk Insurance markets?
Yes we have many builders risk Insurance providers that offer the best builders risk Insurance price with easy to understand builders risk Insurance wording. Our builders risk Insurance underwriting professionals are extremely knowledgeable in their field.
How do I get a builders risk Insurance estimate and how much is the builders risk Insurance deductible?
All that is necessary is to complete the builders risk Insurance questionnaire. The minimum deductible is $2,500