Why You Should Have Builders Risk Insurance in Atlanta
If you’re planning to build a new home or remodel an existing one, you should consider purchasing builders risk insurance in Atlanta. This type of insurance protects you against many potential problems, including fire, explosions, and wind. Although this type of coverage is not required, it is highly recommended. It also provides peace of mind for both you and your family. Below are some of the reasons why you should consider purchasing this type of insurance.
Builders risk insurance is a form of property insurance
When choosing a builders risk insurance policy, consider the types of projects that you are likely to work on. Many policies only cover certain types of construction projects, including new construction. Other types of construction projects can be covered by additional policies. The following are some examples of projects that are typically excluded from builders risk insurance policies. US Assure offers a handy cheat sheet that lists common construction projects and the specific coverage options.
It covers fire, wind, vandalism, explosions, and theft
Many types of builders risk insurance cover various perils, such as wind, flood, and fire, but some policies exclude certain types of perils, such as earthquakes, and wind in beach areas. Generally, builder’s risk insurance coverage ends when the project is completed or occupancy is granted. In other words, you should start getting coverage before the materials are delivered.
It is not compulsory
It is important to purchase GA builders risk insurance for your construction projects because it covers course-of-construction property damage. Even if you have adequate coverage, a covered building can still suffer damage caused by uninsured parties. In addition, a policy will reimburse you for the cost of repairs if any. In addition, you can add broad testing coverage to your policy to protect your business from losses caused by broad testing.
It is easy to obtain
Obtaining builders risk insurance in Atlanta is relatively straightforward. There are several types of coverage available, but most builders risk policies only cover their own property. Several builders risk insurers, however, also offer additional coverage for certain costs associated with their projects. Additional coverage can help cover legal costs, pollution cleanup, and labor costs. Here are some important tips to get the right coverage for your building project. This coverage can help you avoid any potential liabilities.
It is inexpensive
Many insurance companies now offer homeowners insurance that includes builders risk insurance. If you want to ensure that your building project is covered in case of a disaster, it’s important to shop around and compare rates from several insurance providers. Many of these providers offer free quotes, which makes shopping for insurance in your area easy. In Atlanta, you can get a free quote from S C Glenn Insurance & Associates Inc.