{"id":9822,"date":"2024-07-02T10:35:07","date_gmt":"2024-07-02T15:35:07","guid":{"rendered":"https:\/\/www.bbrown.com\/?post_type=insight&p=9822"},"modified":"2024-07-02T10:35:07","modified_gmt":"2024-07-02T15:35:07","slug":"guide-to-builders-risk-insurance-for-construction-and-renovation-projects","status":"publish","type":"insight","link":"https:\/\/www.bbrown.com\/us\/insight\/guide-to-builders-risk-insurance-for-construction-and-renovation-projects\/","title":{"rendered":"Guide to Builders\u2019 Risk Insurance for Construction and Renovation Projects"},"content":{"rendered":"

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Personal Insurance<\/p>\n

\n Guide to Builders\u2019 Risk Insurance for Construction and Renovation Projects\n <\/h1>\n\t\n <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row][vc_column width=”2\/3″]\n
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\n Guide to Builders\u2019 Risk Insurance for Construction and Renovation Projects\n <\/h1>\n\t\n <\/div>[vc_column_text]Many homeowners consider renovating their homes or starting a ground-up construction project. Ground-up construction involves building from undeveloped land, whereas renovation updates an existing structure. These processes are multi-faceted and require much planning before breaking ground.<\/p>\n

Builders\u2019 risk insurance, also known as course of construction insurance, is essential for helping to protect these projects. This article outlines the key aspects of builders\u2019 risk insurance, the importance of understanding personal insurance policies and the critical considerations for selecting builders and architects.<\/p>\n

Understanding Builders Risk Insurance<\/h3>\n

Builders\u2019 risk insurance covers the property and construction materials during the building process. Reviewing personal insurance policies is crucial, as they often include specific provisions about renovations, such as higher deductibles, reduced coverage or even exclusion of coverage if the insurer needs to be notified in advance. These provisions enable insurers to evaluate the risk before agreeing to continue coverage. The nuances of the varying policy forms can be significant and should be carefully reviewed to help prevent gaps in coverage that could result in an uncovered loss.<\/p>\n

Considerations for Selecting Builders and Architects<\/h3>\n