NJ Builders Risk Insurance 101

So, builders risk insurance is a bit like a safety net for construction projects, but here's the kicker – what it covers depends on who's providing the insurance.

In general, it's designed to swoop in when materials, fixtures, or equipment used in construction or renovation take a hit from a covered loss. We're talking about things like fire, wind, or even theft. Because let's face it, these disasters can be a real headache, and not having the right insurance can make things way worse for everyone involved in the project.

But here's the twist – not all builders risk policies are created equal. Coverage forms can be as unique as a fingerprint, and they vary from one insurance provider to another. So here at the Gansfuss Agency we try to simplify the process for our clients and set them up with the policy that best fits their needs. 

Standard builders risk policies generally cover damages caused by theft, vandalism, arson, collapse (nobody wants that), fire or lightning, property damage, materials on the move, and even when materials are placed at temporary locations. Also including debris removal, legal ordinance, and more. 

Builders risk policies – are not just a one-size-fits-all deal. You customize your coverage, making it as unique as your build or renovation.

Some of the optional coverage endorsements are Soft Costs, Backup of Sewers, Drains or Sumps, Business Income and Extra Expense, Contract Change Order, even options for Earthquake, Flood, and coverage for Rain, Snow, Sleet, and Ice.

So, it's not just about what's standard; it's about tailoring the insurance to fit your specific needs. Here at the Gansfuss Agency we are all about making it work for you. Contact us today and we will help you get a quote that fits your build's needs. 

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