Tuesday, September 20, 2011

Builder's Risk Insurance


The Course of Construction Program is a product specifically designed to meet the insurance needs of owners and contractors during construction of residential buildings.  This program is essentially for a small to medium sized contractor that specializes in residential construction.  It is underwritten on an individual risk basis, subject to fully completed applications.

Eligibility Requirements:

New Single Family residential construction only
Built by a contractor or an individual with the aid of a contractor
Not intended for subdivision developers

COMPETETIVE RATES FOR SMALL TO MEDIUM SIZED RISKS (up to): 

$750,000 for Protected Risks
$500,000 for Semi Protected Risks
$300,000 for Unprotected Risks

NEW!  Risks that have already been started!  Forward completed application, photographs and a reason explaining why insurance has not been purchased (these risks will be referred)

Liability Limits available of
$1,000,000 & $2,000,000 

Terms

Policies can be issued for a minimum of 3 months to a maximum of 6 months from the date of construction started.  Extensions may be granted (for a surcharge).

The maximum term we will write with all extensions is 12 months from the date of construction started.

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