Builders Risk Coverage Form
Categories: Insurance
A customized insurance policy for “in process” construction work (i.e., new builds, remodel work, expansions, etc.) for commercial and/or residential properties.
Chip and Joanna decide to remodel their farmhouse to add a chicken coop and guest bedroom (so, really, two bedrooms). Knowing that Chip’s favorite part of the entire process will be Demolition Day, when he knocks down several walls and tears down other imposing infrastructure, Joanna wants to protect against unforeseen structural damage.
To guard against physical damage to the property (though not to Chip or herself), Joanna takes out a builders risk policy, a.k.a., a builders risk coverage form.
