Texas Builders Risk Insurance

As a Trusted Choice Agency our clients rely on us to provide expert insurance advice in specialty markets such as Builders Risk Insurance. Builders Risk Insurance is designed to provide a level of insurance for both residential and Texas Commercial Builders. We can help homeowners, builders, developers, general contractors, investment property groups and house flippers secure the coverage they need at a price they can afford. Call one of our specialists today to get a Free, No Obligation Insurance Quote (850) 389-2001

What is Builders Risk Insurance?

Builders Risk Insurance is a policy designed specifically for structures, both new and existing, while in the course of construction or renovation, think of it as property insurance. It provides physical loss protection to the structure, construction materials, fixtures and equipment used during construction that you have an insurable interest. It may be purchased by the property owners or the general contractor. Although policies may vary with coverage options, a comprehensive policy will cover all stages, from beginning to receipt of a Certificate of Occupancy.

Types of Residential Projects we Insure

• Custom Homes
• Tract Housing
• Modular Homes
• Renovations
• Apartments and Condos under 5 units
• Pool Construction
• Outdoor Living Spaces
• Detached Garages and Workshops
• Commercial Property

Renovations and Remodeling

When undergoing a renovation at the home you have the options to insure the existing structure or exclude the existing structure. There are basically three (3) types of remodeling that we can insure.

Basic Remodel
Basis remodel involves changes to the interior such as cabinets, fixtures and flooring. No changes to the exterior of the building or structure.

Minor Structure
This allows changes to the interior and exterior of the building or structure and include such things as doors, windows, roof, HVAC, plumbing and electrical.

Major Structure
Repair, replacement or removal of load bearing walls or foundation of stores, stairways and elevators.

Commercial Builders

Commercial contractors, property owners or tenants building out a space are also eligible for a builder’s risk policy. Most of these projects are on a larger scale and require different coverage options such as a Reporting Form or Blanket Deposit. Reporting Form can be used for both Residential or Commercial and are designed for contractors with multiple new construction projects per year or commercial projects over $10 million. A Blank Deposit is for builders with 25 or more projects in any given year.

Types of Commercial Project we Insure

• Government Buildings
• Hotels
• Office Complexes
• Stadiums
• Apartments and Condominiums
• Restaurants
• Strip Malls
• Retail Shopping Malls

Builders Risk Insurance Covers – Residential and Commercial

• 90 days after occupancy clause
  
• Theft, arson and vandalism of building materials
  
• Property owned by subcontractors, sub-subcontractors and suppliers
  
• Broad mortgagee language
  
• Construction forms and re-recetion
  
• Debris removal
  
• Temporary Storage
• Fire department service charge
  
• Ordinance or law
  
• Pollution clean-up
  
• Property at a temporary location
  
• Property in Transit

Optional Coverage

• Better Green
• Change Order
• Fence, Walls and Signs
• Expediting Expenses
• Earthquake
• Flood
• Permission to Occupy
• Soft Cost
• Windstorm
• Business Income
• Water Intrusion
• Interest of Sub-Contractors

It is important to note that this is a commercial insurance policy that does not include General Liability Insurance or Liability Insurance of any kind. A separate Premise Liability policy can be purchased for slip and falls but would not cover against an injury by a sub-contractor working at the job site. That coverage would fall to the Workers Compensation Insurance.

Valuing the Project

It is important to insure the project to the total completed cost and the insurance carrier will only cover damages up to the coverage limit. You must take into account the construction material and labor costs when determining coverage amount.

Why Barbee Jackson Insurance?

Whether you’re an experienced builder or a property owner looking to make renovations to you home, Barbee Jackson Insurance has the coverage you need at a price you can afford. We work with all the leading insurance companies and are ready to answer all your questions. Give us a call (850) 389-2001 for a Texas Builders Risk Quote!