How to Insure Your Construction Project Against Loss
It is estimated that one in every four construction projects will experience some type of loss. The most common types of losses are fire, wind, water, theft, and vandalism. Construction project insurance can protect your project from these types of losses. Construction project insurance is a type of insurance that is specifically designed to protect your construction project from loss. Construction project insurance can be purchased from most insurance companies.
In our everyday life, we experience different kinds of situations that may have positive or negative effects on our life. Sometimes we can encounter unexpected circumstances even though the risk is already long existing in the construction industry, that’s why It is better to prepare rather than be caught red-handed because even the most detailed construction plans can go awry.
Like Albert Einstein once said, A clever person solves a problem, but a wise person avoids it.
Why do we need Builders Risk Insurance for Contractors?
Builder's Risk Insurance generally covers contractors for unexpected damage to properties that are under construction. It also protects every staff member and employee, including the management and owner.
Here are some examples of factors that can result in unexpected losses:
- Property Loss caused by Fire damage
- Delayed Completion
- Acts of Nature
Here at Pascal Burke Insurance Brokerage Inc., we open opportunities for our clients to have a one-step-ahead preparation for those uncertainties because we believe in today’s environment a Builders Risk policy is essential to protect your company from the cost of theft or damage to property can strike at any time. For hassle-free transactions about your insurance policy visit our website BuildersArtisans.com or call us at (877)-893-7629