Before you start a new contractor job this Spring, take a moment to review your builders risk policy. Your insurance policy that was sufficient for one job may not be for the next, leaving you without proper coverage. Since not every project is the same in scope or size it is important that you advise us of any new exposures.

Consider this: If a new job requires a temporary security fence or scaffolding, does the current policy reflect those coverages or do they need to be added? What about testing? Is there currently an exclusion on the policy for hot or cold testing? Also, it is important to address power surges, boiler explosions and mechanical breakdowns during the performance testing period. All of these need to be discussed to ensure proper coverage.

The Additional Coverages Limitations section is an overlooked aspect of the builders risk policy. Specifically, “occupancy and use” coverage could cease when the project is occupied in whole or in part or put to its intended use. In order to continue coverage, a permission to occupy endorsement could be needed. However, without a discussion with us, this may not be discovered and coverage could cease without anyone knowing it.

Call us today for peace of mind.