– a property insurance policy that is designed to cover property in the course of construction
Builders risk policies cover the contractor’s interest in materials at the job site before they are installed, materials in transit intended for the job, and the value of the property being constructed until it is completed and accepted by the owner. The policy may be written to cover the whole structure for new construction or the cost of remodeling and renovation projects. It can also be used to cover specific projects, such as a new room addition, a deck, or a remodeled bathroom.
Options for a Ohio builders risk policy include:
- Policy time frames
- New Construction, remodeling & rehabs
- Coverage for framing, cleanup, debris
- Financial costs due to delays
- Project sites and trailers