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Baltimore MD Builders Risk Insurance
How to Adequately Protect Property in the Course of Construction

Baltimore Maryland Construction Projects Involve Unique Risks Construction projects include unique risks not specifically handled by other insurance policies because buildings under construction are more subject to damage from the elements such as snow, rain, wind and hail than completed structures. Another big issue is that construction project property values do not remain stable throughout the duration of the policy period. Instead, the insured value of a construction project starts out small in the early stages of the job and continually increases until project completion. Also, the property may be owned by the general contractor, the subs or property owner. The property can be in transit at the construction site or even off-site. To cover these unusual exposures, a Builder's risk insurance policy is neccessary. These are specialized policies made to cover the property loss exposures that come with construction projects in Baltimore. Who's Responsibility is it to purchase Builders Risk Insurance The "Insurance requirement" sides of the contract will explain whether the the general contractor or project owner is responsible for buying a Builders Risk policy. Builders Risk is a non-standard form of coverage and many companies file their own forms. However, each builders Risk policy will cover supplies, the building that is being constructed, machinery, equipment that will be used in the construction, all fixtures and materials. Builders Risk Policy Coverages Can Be Vastly Different? By way of example, this is how significantly different builders in Baltimore risk can be. One of our builders risk insurance markets does not contribute any general liability as part of their policy - it is simply not available. You pay the same price if the project takes 2 days or 1 year. Call us at (888) 553-0021 or contact us for answers to your Baltimore Builders Risk insurance questions.