Having a builders risk insurance policy Houston, TX is a smart move before you and your team start your next construction project. Texas Insurance Agency can help you find the best options for you. Slightly different from contractors’ or construction insurance, a builders risk insurance policy protects the building or structure you’re currently working on. No matter what you’re looking for, our team can help you get what you need.

What is a builders risk insurance policy?
A builder’s risk insurance coverage protects a building or structure that is still being built from theft, vandalism, fire, wind, lightning, and other outside, unplanned events that could cause damage or loss. The building materials and tools used on the project can also be covered by this guideline. The policy usually starts when the building contract is signed and lasts until the project is finished and the property is ready to be lived in.

Before your next project starts, get a builders risk insurance policy. Our team can help with finding the perfect insurance coverage for you.

If you’re part of a building team, you may have experienced or heard stories of projects that were delayed because of unplanned events. Here in Houston, floods and storms often come, especially during the middle of the year. Anything could happen to the building or materials you’ve painstakingly put together. A builders risk insurance policy can help you restore or recover from the loss or delay of the project.

Texas Insurance Agency is the best insurance brokerage you’ll find that can help you find insurance coverage at an affordable rate. Contact our office today to schedule a meeting with one of our agents. We’ll help you assess your business assets and risks to ensure you get coverage that guards against risks from as many angles as possible.

The Importance of a Builders Risk Insurance Policy Houston, TX

It is important to have builder’s risk insurance for many reasons. Rather than risking the worst-case scenarios without insurance, it’s better to get what you need before anything happens. Texas Insurance Agency can help you figure out how much coverage you need and provide you with the following benefits:

• Financial Protection: These plans are very important for keeping building projects’ finances safe. They help builders, developers, investors, and lenders lower their financial risks by covering possible losses caused by damage or theft of building materials, tools, or equipment.
• Continuity: If there is an accident or damage, this insurance covers the costs of fixing or rebuilding, so the project can go on without putting a huge strain on the budget or delaying it for a long time.
• Contract Requirements: If it’s in some contracts or business deals, you have to do it. In order to meet state, local, or lender standards, builders, contractors, or property owners may need this kind of coverage.
• Liability Coverage: Most plans cover damage to property, but some may also cover injuries or accidents that happen on the job site. Most liability coverage can cover the legal fees that occur when someone files a lawsuit or claim against you.
• Coverage of Deferred Bills: If a project is delayed because of a covered event, like a fire or bad weather, the insurance might pay for costs that build up during the delay, such as loan interest or property taxes.
• Peace of Mind: Because construction projects involve a lot of money, this policy gives everyone concerned peace of mind by covering any possible risks. It’s now easier to manage risks, so everyone can focus on finishing the job successfully.

No matter what you’re building, you should get a Builders Risk Insurance Policy Houston, TX to have a safety net in case of something happening.

Remember that each building job and builders risk insurance policy is different. Because of this, it’s important to work with an experienced insurance broker or agent who can make the policy fit the needs of the job.

What are Other Building Insurance Policies?

Of course, a builders risk insurance policy isn’t the only construction insurance you’ll need to ensure your business and project doesn’t fall through due to one mistake, unplanned event, or accident. There are other types of insurance coverage that you’ll need to ensure that your business is protected from as many angles as possible.

These are some other types of building insurance:

• General Liability Insurance: This type of insurance protects against harm to people or damage to property caused by a business’s activities, goods, or work. It covers any legal fees that occur because of lawsuits and claims against your team.
• Professional Liability Insurance: This type of insurance is also called mistakes and omissions insurance. It protects the company from claims of financial loss caused by mistakes in the design, bad workmanship, or carelessness.
• Workers’ Compensation Insurance: This type of policy pays for medical bills and missed wages for workers who get hurt on the job.
• Commercial Vehicle Insurance: This kind of insurance covers harm or damage caused by construction trucks or any other business-owned vehicles.
• Equipment Breakdown Insurance: This kind of insurance pays to fix or replace broken equipment like lifts or HVAC systems that you need for your building project.
• Contractor’s All-Risk Insurance: This type of insurance covers all different kinds of building risks, such as claims from third parties.
• Surety Bonds: These are a type of insurance in which the insurance company promises the client that the worker will do what they agreed to do. It ensures that the project will have enough money to be completed even if the team goes bankrupt or has to delay the project for some reason.

We’ll show you what type of options you have for a builders risk insurance policy.

The risks that come with the job will determine which insurance policy is best. Talking to an insurance expert who specializes in building might be a good idea to make sure you have the right coverage.

Getting Things Started

Texas Insurance Agency has all the tools we need to ensure that you get the coverage you need to protect your business. Call our office today to learn more about the different types of construction insurance available to you. Our Houston office can show you your options, or you can get a free quote to check our rates for a builders risk insurance policy.

Houston, Texas Fun Facts:

• Houston is also called Space City.
• It’s home to NASA Mission Control and the Johnson Space Center.
• “Houston” was the first word said on the Moon.