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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.

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

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It protects against fire, lightning, hail, wind, theft, and vandalism, among other perils. Distinguished’s Builder’s Risk Policy Our Builder’s Risk policy covers building costs, foundations, onsite materials, off-site materials in transit, fixtures, equipment, and temporary structures like scaffolding.

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

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Job sites that are under construction are prone to things like fire, theft, and vandalism. Theft : Covers the cost of replacing covered items that were stolen from the job site. Equipment : Covers damages to or theft of equipment used on the job site. An increase in construction also means an increase in financial risk.

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Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

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We can consider weather related claims, but claims of theft, vandalism, and fire, for example, would be an automatic decline. If we are comfortable with our exposure, we may consider increasing the AOP deductible and the theft deductible , depending on the underwriting analysis. And in those cases, it would be a declination.

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The Role of Appraisals in Fine Art Insurance

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A client’s fine art collection may represent their treasured possessions or important investments and requires specialized insurance to protect against losses caused by water, fire, vandalism, theft, transit, and natural disasters. Property and Liability products are distributed through a national network of agents and brokers.

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Builder’s Risk Insurance in Michigan: Online Quotes, Coverages, and Costs 

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Under-construction buildings can be prone to fire, vandalism, and theft, which can end up costing their backers and owners millions. Whether it’s the work going into revitalizing downtown Detroit or the soaring costs of home prices across the Wolverine State, a lot of time, money, and thought is going into construction work across the state.

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What are the most important questions to ask when choosing business insurance?

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Think about the everyday operations of your business: – Are there physical locations that require protection from natural disasters or theft? – Property Insurance : Protects physical assets from perils like fire, theft, and vandalism. – Inland Marine Insurance for transporting equipment and goods.