Are you looking for a reliable Pearland TX Builders Risk Insurance policy? If so, contact the insurance brokers you can trust at Texas Insurance Agency. We partner you with only the best of the best in the insurance industry.

Texas Insurance Agency has been serving clients for over two decades in the Greater Houston area. In that time, we have proven our dedication to exceptional customer service. Moreover, our mission is to help every client find the insurance they need, whether for business or private coverage.

In comparison to other jobs, construction sites are high-risk environments where there is a daily risk of accidents. Fortunately, there are many insurance options available for coverage of everything from employee injury to vandalism to property damage. Call Texas Insurance Agency today to find the right Pearland TX Builders Risk Insurance policy.

Call Texas Insurance Agency for expertise that will get you the right Pearland TX Builders Risk Insurance policy!

What is Builder’s Risk Insurance?

Builder’s risk insurance is the policy you want for your construction project. It doesn’t matter what size the project is. Having an insurance policy that covers the risks that come with construction is essential.

For instance, a builder’s risk insurance policy is custom-made to fit your specific construction project. This means you can choose to include coverage for specific pieces of equipment, materials, or occupational accidents.

This type of insurance generally covers property damage that is the result of events like fire, hail, explosions, theft, vandalism, and other ‘Acts of God.’ These events can happen anywhere and at any moment.

Exclusions to your coverage will apply, so it is important to be aware of these from the start. If necessary, you can choose to purchase a builder’s risk extension policy that will bridge a gap in coverage.

Things to Know:

Coverage

The majority of construction projects are laid out under an agreement you sign. This is what we call a contract. This contract outlines the duration, scope, and cost of the project and can also include under what circumstances you can terminate the contract.

If your project faces a delay due to events that receive coverage under your policy, then you might be eligible to receive financial assistance until the project is able to resume. For example, if some of your most important equipment or materials are stolen, your project will likely face a delay.

In this instance, things like additional loan interest and taxes that result from that delay could be covered. In addition to a custom builder’s risk insurance policy, there are extensions available.

For a small additional cost, you can have the option of purchasing coverage for things like scaffolding, temporary structures, and debris removal.

Exclusions

In general, builder’s risk policies tend to exclude coverage for things like mechanical breakdowns, acts of terrorism, faulty design, and employee theft. However, consult with your insurance agent about whether you can add coverage for these factors through an extension to your policy.

Other exclusions include damage that occurs as a result of an earthquake, flooding, or strong winds. If your project is in a location that is more prone to one or more types of weather events, consider purchasing coverage for those events through an extension.

A builder’s risk policy helps minimize your financial liability in the event of certain unexpected events that cause damage and delay to your construction project. When considering what your insurance policy will look like, carefully consider what events might affect the construction and discuss those with your insurance agent.

In some instances, your agent will be able to offer exclusionary provisions. These are rare offers from agents. However, if you have a subcontractor that performs faulty work which results in damage and delay to the overall project, an exclusionary provision to your policy can be made at the discretion of your agent.

Pearland TX Builders Risk Insurance

Types of Property

Your construction project relies on the assistance of specific equipment and materials to get the job done. If that equipment or materials are stolen, your project is inevitably delayed.

Builder’s risk insurance offers limited coverage of construction equipment, materials, and supplies. Most policies will cover damage that happens on-site, in transit, or at another location.

Cost of Coverage

The cost of your builder’s risk coverage will depend on several factors. For instance, the type of materials you are using will affect the cost. High-end materials that are costly in the first place will require a higher insurance coverage amount.

Likewise, the scope and size of your project will also be a factor. Whether you are building a skyscraper in the middle of a city or constructing additional square footage to a local school, there are countless risks.

If an accident happens, will the damage stretch beyond the project site? Is there a risk to the local community if an accident happens? These are all factors that your agent will consider when recommending a policy.

Start and End of Coverage

The start and end of your coverage will depend specifically on the start and end of your construction project. Typically, from the time you sign the insurance contract, your policy provides coverage. However, check with your agent to make sure there is not a delay before you receive coverage.

A builder’s risk policy only lasts from the start to the end of the project unless it is terminated. Avoid being caught by surprise by discussing your policy with your agent ahead of time! Reevaluate your insurance needs on a six-month cycle and find a trustworthy agent that you really like.

Risk Management in Construction

The Texas Insurance Agency offers Pearland TX Builders Risk Insurance at incredibly low prices!

Construction work presents a high-level workplace for customers and employees alike. This is why it is so important to have the right coverage available. The experts at Texas Insurance Agency are here to help you find a policy that gives you risk management control!