Are you embarking on a construction project? You might consider getting a builders risk policy, a type of property insurance designed specifically for construction projects. It indemnifies against damage to buildings while they are under development, renovation, or construction. Since construction projects vary and no project is ever the same, there are several coverages, terms, and conditions to consider when structuring builders risk policies.
Powers Craft Parker & Beard, Inc., an insurance brokerage division of Bryn Mawr Trust, addresses the benefits of builders risk insurance and why it is important for protecting commercial and residential construction projects.
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