Builder's Risk Coverage

Building Homes? Here's 6 Key Reasons to Insure Your Project With Builder's Risk Coverage
HomeTown Insurance & Financial Services Agents Can Get You the Coverage That Fits Your Project!

1. Protect the Project – A builder’s risk policy safeguards the unfinished structure, materials, and equipment against physical loss or damage from covered events like fire, theft, vandalism, and even weather events. Without insurance, the builder would be responsible for the costs of repairs or replacements.

2. Increase Financial Security – Construction projects are inherently risky. An unexpected event can cause significant financial setbacks. Builder’s risk insurance provides a financial safety net, covering the costs of rebuilding or replacing damaged materials, preventing a major financial loss for the builder.

3. Minimize Project Downtime – If a covered event damages the project, the builder’s risk policy can help expedite repairs and get the project back on track quickly. This minimizes downtime and potential delays in completion, saving the builder time and money.

4. Gain Peace of Mind – Knowing that the project is insured allows the builder to focus on the construction process without worrying about financial ruin due to unforeseen circumstances. This peace of mind can lead to better decision-making and a smoother building process.

5. Access Broad Coverage – A builder’s risk policy offers broader coverage compared to a standard homeowner’s insurance policy. It can cover things like theft of materials in transit or storage, vandalism, and even temporary structures on the site.

6. Maintain Contractual Requirements – In many cases, having builder’s risk insurance is a requirement stipulated in the contract with the property owner. The lender financing the project might also require it to protect their investment.

Have questions, or need some help finding the right coverage?  Contact HomeTown for a free quote.
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HomeTown Insurance and Financial Services is here to help! We can ensure your insurance and financial well-being are taken care of by listening to you. Send us a secure note here, or give us a call at (970) 264-4321.  If you just want to text, we can do that too!  Send your text message inquiries to: (970) 444-2595.

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Looking for multi-state P&C coverage? We can help you out with that too! Check out more here. Serving, Arizona, Colorado, New Mexico, and Texas for Property and Casualty Insurance.

We’re your hometown agency, HomeTown Insurance and Financial Services, llc. Colorado insurance professionals, offering service across the state. Colorado Springs, Pagosa Springs, Pueblo, to Grand Junction and everything between. Certified insurance brokers. We carry insurance of all types for New Mexico too! Chama, Santa-Fe, Gallup, to Farmington, and more. Let us know your insurance questions, and we’ll get you answers!

We know lots of folks keep properties in multiple states! That’s whey we specialize in Property and Casualty coverage for Arizona, Colorado, New Mexico, and Texas. Make it easy with HomeTown service for your multi-state properties!

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