Program Summary
The Builder's Risk program is a Course of Construction policy that provides coverage for:
- Residential structures up to 5,000,000 in value, and
- Commercial structures up to 25,000,000 in value.
Program Highlights
- Available for US based insureds with construction projects in the US, except projects located in Tier 1 counties in FL, TX, LA, MS, AL, GA, SC, NC, VA, MD.
- Coverage term available up to 24 months
- Minimum Premium $1,000
- All Protection classes
- Deductible options from 1,000 up to 50,000
Coverages
Coverages available through the Builder's Risk program:
| Coverage | Automatically Included | Can be increased to (for an additional premium) |
| Existing Structures | As Declared | |
| Earnings, Rents and Soft Costs | 25,000 | 250,000 |
| Property While at Other Locations | 25,000 | 250,000 |
| Property in Transit | 25,000 | 250,000 |
| Construction Trailers & Contents | 25,000 | 50,000 |
| Trees, Shrubs and Plants | 10,000 | 50,000 |
| Ordinance or Law | 100,000 | 1,000,000 |
| Earthquake | n/a | Building Limit |
| Flood | n/a | Building Limit |
| Wind | Building Limit | n/a |
Additional Coverages
Coverages automatically included:
| Coverage | Automatically Included | Can be increased to (for an additional premium) |
| Construction Documents | 10,000 | |
| Construction Signs | 2,500 | |
| Pollutant Cleanup | 25,000 | |
| Debris Removal | 25,000 | |
| Fungus, Wet Rot, Dry Rot and Bacteria | 10,000 | |
| Expediting Expense | 10,000 | |
| Fire Department Service Charges | 5,000 | |
| Fire Protection - Device Research Expense | 25,000 | |
| Contractual Penalties | 25,000 | |
| LEED Indoor Air Quality Standards Restoration Expense | 25,000 | |
| Sinkhole Collapse | Included | |
| Testing / Mechanical Breakdown | Included | |
| Blanket Loss Payee | Included | |
| Unintentional Errors or Omissions | Included | |
| Rain, Snow, Sleet, Sand or Dust | Included |
Definitions
Soft costs means expenses relating to covered property consisting of:
- Advertising and promotional expenses
- Artchitectural and engineering supervisory services and consulting fees,
- Audit and bookkeeping services
- Commissions or fees for the renegotiation of leases
- Fees for licenses and permits
- Insurance premiums for builder’s risk, workers compensation and general liability insurance
- Interest on the construction loan
- Realty taxes and other assessments
- Rental or lease expense of construction equipment
Lines of Business
Inland Marine
Insurance Companies
Abacus maintains strict requirements with regard to carrier selection. All carriers on abacus.net are required to be top-tiered with an A rating.
Documents
Billing Options
Agency Bill, Credit Card
Minimum Earned Premium
Premium fully earned at binding
Eligible States
Click map for a detailed view.
The content displayed on this website is for informational purposes only and is not an offer for insurance. To apply for insurance, contact your broker.
Coverages referenced on this website may not be available in all territories and may vary depending on the exposure. Minimum premiums may vary by State.
