Don’t start a construction project without talking to our team about your need for builders risk insurance.
A new construction project has its share of risks and uncertainty. For instance, financial losses due to theft, vandalism, and unforeseen weather disasters could have an impact on your project. While we certainly hope this doesn’t happen, this is where builders risk insurance becomes a necessity, offering crucial defense for building projects of all kinds in North Carolina.
Builders risk insurance is different from regular property insurance, which usually only covers completed projects. Essentially, it safeguards building projects during their ongoing stages, including offering coverage for buildings and structures that are under construction, renovation, or repair. Additionally, it offers coverage for on-site supplies, machinery, and more.
The “risk” part of builders risk insurance usually includes theft, vandalism, windstorms, fire, and some natural calamities from the time of groundbreaking until project completion. Having the appropriate insurance coverage in place can offer peace of mind and help assure the smooth completion of your project, regardless of your role in the process—contractor, property owner, developer, or lender.
Knowing all this, you can see why it’s crucial to speak with a knowledgeable team like ours at LaVaughn Rodgers Insurance before beginning any construction project. We can review your needs and find the right builders risk insurance policy so that you and your site are adequately covered. We can also answer any questions you have to ensure you fully understand the policy.
We’ve helped countless clients get the coverage they need over the past 45+ years, and we’re sure we can help you, too. Contact us today to learn more.