A builders risk insurance policy from The Hartford includes coverage for things like:
- underground pipes
- temporary structures
- false work
- construction signs
- trees, shrubs, sod and plants
- labor expenses
- and more
Profits. Builders risk insurance covers more than just labor, materials and equipment that are needed for new construction project; it can cover profits as well. With The Hartford’s builders risk coverage and heavy equipment insurance, contractors can be reimbursed for the pro rata percentage of profit earned as of the date of the loss – based on the profit assumptions included in the job estimate.
Modular Components. Businesses often store important and expensive materials and equipment in off-site modular units. With builders risk insurance from The Hartford, such modular units and components are covered while they are being used for temporary storage or in transit. Location of the storage unit does not need to be listed in the builders risk insurance policy.
Testing. Construction and contractor businesses often test out newly installed equipment. In the event of a physical loss caused by electrical, mechanical, pneumatic and hydrostatic testing, The Hartford’s builders risk insurance policy can help cover the costs of the loss. Broader testing coverage can be added to the builders risk insurance policy to include boilers, production equipment, pressure vessels and power generation equipment.
Property of Others. Most builders risk coverage and heavy equipment insurance policies limit coverage only to the property owned by the policyholder. With builders risk and heavy equipment insurance from The Hartford, construction and contracting businesses are covered for the property of others while it is located on their site.
Valuable Papers and Electronic Data. Contractors and construction companies rely on blueprints, schematics and other paper and electronic documents and data in the course of conducting their business. Builders risk insurance from The Hartford provides up to $100,000 to research, restore and replace important documents and electronic data that were lost in a covered risk.