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Eley Insurance Agency
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      • Home Insurance Quote
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    • Report a Claim
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
  • Insurance
    • Commercial Insurance >
      • Commercial Auto Insurance
      • Commercial Property & Liability
      • Commercial Umbrella
      • Workers Compensation
    • Life Insurance
    • Disability Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Motorcycle Insurance
      • RV Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Cyber Liability Insurance
      • D & O Insurance
      • Employment Practice Liability Insurance
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      • Home Insurance
      • Condo Insurance
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      • Builder's Risk Insurance
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Builder's Risk Insurance​

Builders risk insurance is insurance coverage designed specifically to protect buildings and structures that are under development, renovation or construction as well as the equipment being used in the construction project.

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What is Builder's Risk Insurance?

Builder's risk insurance is a special type of property insurance which indemnifies against damage to buildings while they are under construction. Builder's risk insurance is "coverage that protects a person's or organization's insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause."

Coverage

Builder's risk covers perils such as fire, wind, theft and vandalism and many more. It typically does not cover perils such as earthquake, flood or wind in beach zones unless the policy has been specifically endorsed to do so. However, earthquake riders can be very economical, depending on where your project is located and should be considered. These policies also do not cover accidents and injuries at the workplace. and is intended to terminate when the work has been completed and the property is ready for use or occupancy. If you are going to properly setup your policy, coverage should be effective prior to when the materials are delivered to the job site. Coverage ends upon the earlier of closing of the sale, occupancy or the policy expiration date. After builder risk coverage expires, due to sale or occupancy, the new owner should take out permanent property insurance on the building such as a home owner's policy or a commercial property policy
(215) 439-4585​
5223 Germantown Ave
Philadelphia, PA 19144​
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Eley Insurance Agency
(215) 439-4585​
Our mailing address: 
5223 Germantown Ave
Phila, Pa 19144
​Click Here to Email Us 

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