Houston TX builders risk insurance

Do you want to know about Houston TX builders risk insurance? Well, the people at Texas Insurance Agency can help you. Our brokerage firm has years of experience in advising on insurance. We make sure our prices and rates fit your needs. Our team has a lot of years to boast about. The company prides itself on making the right connections with the right people. If you want, you can get a quote on our website. Our team goes over any type of insurance coverage you need or might ask about.

Houston TX builders risk insurance

Houston TX builders risk insurance

Get coverage for your construction site!

Lucky for you, we have locations in the Houston, TX, area. Our offices are in Katy in the west and Pearland in the south. What’s good about our company is that we also partner with local companies to help our clients. Our relationships with those companies only serve to make sure we help you: the client. We handle all insurance concerns. That could be from auto insurance, wholesalers insurance, or even motorcycle insurance. The company also helps with personal insurance, which can be really important. If you want to get in touch, shoot us an email or give us a call at 281-398-1010.

What is builders’ risk insurance?

Builders risk insurance is a special type of property insurance. It’s also known as construction insurance. Houston is a large city so construction is a big deal. Furthermore, Builders’ risk insurance protects buildings that are under construction. The insurance plan can be complex, but it’s crucial for risk management.

Builders risk insurance protects construction projects from fire damage and lightning, for starters. It also protects against hail, explosions, theft, and vandalism. And not to mention it covers hurricanes as well. In the grand scheme of things, there are certain people who need this insurance. Those people would property owners, architects, contractors, and lenders. Henceforth, these are the people who have a financial interest in the construction project.

What It Covers

Builders’ risk insurance covers buildings and structures that are under construction. In effect, this insurance protects any type of materials, supplies, or equipment on the site. Overall, builders’ risk insurance protects the structure of the construction from certain types of damage. Additionally, it can cover any lost cost or fees and other expenses. Altogether, these expenses could be rental income, real estate taxes, added interest on loans, or lost sales.
It’s vital to keep in mind that a builder’s risk policy is different with each project. If you get coverage extensions, it can help a lot if you want to customize the policy. Those extensions could be important in the long run. The extensions could be protection for scaffolding, construction forms, and temporary structures. It can also include debris removal and disposal when there’s a loss. Furthermore, it can help with pollutant clean-up.

What It Doesn’t Cover

Like with any type of insurance, there are exceptions to coverage. With your Houston TX builders risk insurance, you have exceptions here and there. Those exceptions are wear and tear and even acts of terrorism or war. Other exceptions are employee theft and rust, and corrosion. In addition, builders’ risk insurance does not protect against mechanical breakdown or damage because of bad design. It also doesn’t cover the planning, workmanship or materials, or the engineers.

Cost of Builders Risk Insurance

Houston TX builders risk insurance

Know the cost of construction insurance with Texas Insurance Agency!

You can expect the cost of builders’ risk insurance to be really high. Again, it’s different for different projects. In some cases, you may need to get more coverage or add extensions to help with the cost. When it comes down to it, the cost of the insurance depends on a few things. These few things are construction materials, the type of project it is, and the policy details; that could be the coverage details and limits.

A good word of advice is to pick coverage limits that are the same as the projected cost of the construction. So, by extension, if the cost of the construction is high, the insurance will be expensive, too. Get with Texas Insurance Agency to find out the amount of coverage you’ll need.

It’d also be a good idea to do inventory on your project’s exposures at different parts of the project. You may decide to get broad protection or a narrow one for a specific property or risk. It’s also important to remember that the coverage starts on the date when all contracts have been signed. Though, you may have policy restrictions when the coverage begins. So, be on the lookout for what triggers the coverage.

Builder’s risk insurance is a temporary insurance policy. So, it will end after the project’s completion. You can expect your policy to tell you when the coverage ends, anyway. Typically, the coverage ends when the policy expires or is canceled. It also ends when people occupy the building or when the building is put to use.

On a final note, the builder’s risk insurance does not cover repair costs or bad work from a subcontractor. You may get coverage if you have a loss provision in your policy. When you get your coverage, be sure to understand all the nooks and cranny of what it entails. Exclusionary provisions can vary a lot for your Houston TX builders risk insurance.

Property Insurance

Houston TX builders risk insurance

A commercial property insurance plan will help your business a lot!

Builders risk insurance is another type of property insurance. Property insurance is what covers damage to your property from outside forces. The coverage kicks in when other people are involved. That could be customers or employees. Property insurance protects against a majority of things like fire, lightning storms, and hail. At Texas Insurance Agency, we offer the best advice on this type of insurance. For your business, a commercial property insurance plan helps a lot. Especially if your company is big, it protects your pipes, equipment, and physical assets.

Give us a try!

If you want to know more about your insurance options, be sure to visit one of our locations or visit our website. Our members, Ronald, Jeffrey, Kristy, and Mallory, will help you every step of the way. For your Houston TX builders’ risk insurance, call now!

Fun Facts about Houston, TX

  • There are more than 145 languages in the city.
  • The city has an underground tunnel system.
  • The Houston Galleria is the biggest mall in Texas.
  • The city is home to the Astrodome.
  • To learn more about the city, visit the website.

Our Partners

We are pleased to partner with these companies to bring you the best coverage at the lowest rates available.