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BUILDER’S RISK
 

Builder’s Risk

Holman’s builder’s risk program covers residential and commercial structures while they are under construction or being remodeled or renovated
This exposure will not be covered under a traditional home-owners or property policy. Covered building components include foundations, fixtures, machinery, equipment used to service the building, building materials and supplies, and debris removal in the event of a loss, such as fire.

Eligible Projects include:

    • Light Commercial Buildings
    • Multi Family Residential up to 8 Family units
    • New Construction
    • Only Wood Frame Construction
    • Renovations and additions excluding existing structures
    • Single Family Homes
    • Up to 4 Story buildings
    • Up to $2,000,000 for frame new construction or renovation projects

Requirements

    • General contractor or project manager with at least 2 years experience
    • Maximum of 8 units for multifamily residential, up to 4 stories  
    • Project length is 24 months or less
    • No known losses at time of inception
    • No military installations, mobile or modular home assembly
    • Operation must be an approved class of business

Key Features and Coverages

    • Can back-date coverage up to 14 days
    • $5,000 Additional Living Expense included, up to $50,000 optional
    • Soft Costs limit up to 25% of Hard Costs
    • Change Order Automatic Coverage
    • Sewer Backup
    • Equipment Breakdown, including testing and commissioning
    • Earthquake and Flood (subject to eligibility)

 

 

Get a quote online             

 

Program Disclosure

Coverage under this program is administered by Holman Insurance Brokers Ltd. We have engaged in a marketing process to offer a competitive product on a group basis with insurers but we have not acted as a broker for any individual customer. Should your application not be accepted for whatever reason by the insurer, the information may be used by Holman to seek an alternative insurer if available.