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Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

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One common question is whether the contractor and the property owner can be named insureds on the same Builder’s Risk policy. The answer lies in both parties’ financial interest in the property and how that impacts the insurance policy’s structure. Property owners may also choose to add Premises Liability coverage to the policy.

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Public Art Insurance: Safeguarding Publicly Owned Art and Collectibles 

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Public art insurance is a specialized insurance policy designed to provide coverage to all artwork or valuable collectibles owned or loaned to a public institution.  For instance, a city could take out a public art insurance policy that would cover any artwork, historical artifacts, or even outdoor sculptures owned by that city.

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Does Builder’s Risk Coverage Differ for Residential vs. Commercial Construction Projects?

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While Builder’s Risk policies for both types of projects offer similar coverage, such as insuring for damage to the structure from fire, theft, and other covered perils, there are important distinctions between residential and commercial coverage. We offer 3-, 6-, 9-, or 12-month policies, with extensions available upon review.

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Distinguished Programs and Berkley Program Specialists Partner for Community Associations D&O and Crime Coverage 

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The precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Property and Liability products are distributed through a national network of agents and brokers. Berkley Corporation. Not all products and services are available in every jurisdiction.

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Key Strategies for Protecting Your Collection

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Review Your Insurance Coverage – Take the time to examine your liability insurance policy to confirm that it includes volunteer coverage. Property and Liability products are distributed through a national network of agents and brokers. Consult your insurance broker for clarity on the specifics and potential additional coverage options.

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The Role of Appraisals in Fine Art Insurance

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Types of Valuations Insurance policies can be written on an agreed value/scheduled or blanket basis. If it’s a piece that increases in value, as with contemporary art and any high-value fine art collection, the agreed value in the policy could fall significantly short of its market value. Think Warhol, Banksy, and Haring.

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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

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Different Builder’s Risk insurance policies vary from one insurance carrier to another.  Typically speaking, Builder’s Risk policies will cost anywhere from 1-5% of the total project cost. Who Should be Named in a Builder’s Risk Policy? Naturally, they must be named on the policy.

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