Real Builders Risk Insurance Risk
AVERAGE COST OF A SLIP AND FALL INJURY
AVERAGE LIVING ROOM RENOVATION COST
# TIMES YOU COULD REMODEL YOUR LIVING ROOM INSTEAD OF PAYING FOR A SLIP AND FALL INJURY.
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MA BUILDERS RISK INSURANCE
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It’s an exciting time! You’re building or renovating your home. You have your Pinterest board filled with ideas and when you see the Pottery Barn catalog arrive you get excited. What could be more exciting than customizing your living space to be exactly what you have always wanted? After you select your contractors or maybe you are lucky enough to be handy and able to do it yourself, you need to consider your insurance. We know that talking about builders risk is not nearly as fun as selecting appliances or paint colors. However, when you are building a new home or reconstructing your current home, you need builders risk to protect the property and materials you may have onsite.
What would happen if your new home was half built and a fire occurs? How are the already completed work, material and labor covered? A Massachusetts builders risk insurance policy would step in and cover the loss to repay you the investment. If you are reconstructing or remodeling your home, until the construction is complete, your homeowners policy only covers your previous structure. Even the cost of materials can be costly. Builders risk also covers theft of materials on your job site. Often times, builders risk can cover flood or earthquake damage which many homeowners policies do not include. You may not think you need builders risk for a small job but think again. Even a small slip and fall can result in a great deal of liability. With a builders risk policy you can add coverage to protect you from costly accidents.
4 FACTS ABOUT MASSACHUSETTS BUILDERS RISK INSURANCE
If you are homeowner acting as your own general contractor you still need builders risk.
You can buy builders risk in short term and longer term policies. Also, carriers allow you to cancel your policy early if the job is complete.
Even if the contractor doing work is insured, unless you have a contract with the contractor that requires them to purchase the coverage, you could be left unprotected.
More often than not your homeowners policy will not cover damages. Check with your home insurance agent before you start any project.
With a Massachusetts builders risk policy in place you can keep focused on designing your home without any worry. Here are a few features of working with Berry Insurance:
- We start with a comprehensive risk assessment so we understand who you are and what you need.
- Based on our market knowledge, we customize your coverage with the top carriers in Massachusetts.
- Based on your project, we will recommend what endorsements and policy features will keep you running in the event of a claim.
- We can also help you with home, auto, life, umbrella insurance and more.
- Annually, when we review your account, we will review your insurance needs.
- Being in Massachusetts means we can provide you real local claims support. One of our team members will be available to you 24/7 with our dedicated claims support line.
- We have a mobile phone app so you can take pictures of your projects’ resources to make sure they are properly protected.