Builders’ risk insurance, which covers damage to the building while it is being built, is required for developers. These premiums have increased by 30% in the last two years.
Tag: builder’s risk insurance
Managing the Gap in Builder’s Risk Insurance
Commercial property insurance covers various kinds of property, including buildings, structures, contents, land, and even personal items such as jewelry. The type of coverage varies based on the property and the costs to rebuild. However, it doesn’t protect against risks related to projects under construction, which need the specialized protection of a Builder’s Risk Policy.… Continue reading Managing the Gap in Builder’s Risk Insurance
Chubb Examines Risks Facing Homebuilders During the Construction of New Homes and Communities
In response to the many costly exposures facing homebuilders and developers in today’s housing marketplace, Chubb has issued a new whitepaper, “New Home Development: A Start to Finish Overview of Risks in Building Master Planned Communities.” The paper examines the many risks that can severely impact the project’s budget and completion, including property damage and… Continue reading Chubb Examines Risks Facing Homebuilders During the Construction of New Homes and Communities