Builders Risk Insurance in Greenville, SC
Construction projects often have constant risks and exposures for which stakeholders must account. Even the most experienced and diligent professionals need suitable insurance to address accidents, errors and other things that could go wrong during a job. For most construction projects, builders risk insurance is an essential loss control measure.
What Is Builders Risk Insurance? 
Also known as course of construction insurance, these policies can offer specialized coverage against various incidents that could occur on a job site. Specifically, builders risk insurance payouts can often help limit out-of-pocket losses and expenses arising from the following:
- Fires
- Lightning
- Hail
- Explosions
- Theft
- Vandalism
What Does My Policy Cover?
Builders risk insurance can cast a versatile financial safety net across many aspects of a construction project, potentially helping insureds absorb losses and expenses arising from many incidents. Although policy details may vary and can often be customized to suit a project’s unique circumstances and policyholders’ needs, payouts can generally help pay for damages involving the following:
- Buildings under construction, including those being built from the ground up, as well as those under renovation
- Temporary structures, such as scaffolding and fences
- Inventory, such as materials and chemicals stored on site
- Equipment, including gear, machinery and tools
- Important documents, such as blueprints and contracts
Builders risk insurance may also reimburse insureds for indirect costs incurred due to covered incidents, such as additional fees and taxes made necessary by delays.
Who Needs Coverage?
Builders risk insurance is essential for risk management for construction projects. Although a single policy can cover multiple parties, all stakeholders should ensure they’re listed. Insureds should often include the following:
- Property owners
- Developers
- General contractors
- Lenders
- Subcontractors
- Architects
- Engineers
How to Get Builders Risk Insurance Near Me
Contact Super Insurance Discounts today to explore builders risk coverage options near you.