Looking For A Builders Risk Coverage Near Mission Viejo?
At PJO Insurance Brokerage, we know that a tremendous amount of time, research, and financial investment go into every project. Whether you are planning a large remodel, an addition to your home, or a new build, you will need to consider permits, house plans and materials, and find a reputable contractor with excellent qualifications and reviews. Most importantly, be sure either you or your contractor have acquired a construction insurance policy before the project begins.
Builder’s Risk Insurance is a specialized type of insurance that goes beyond the homeowner’s average policy to protect an unfinished structure in the event of a variety of damages. It will also protect the laborers in case of an accident, and ensure the contractors, developers, and banks are financially protected from massive out-of-pocket expenses.
When you are ready to choose a Builder’s Risk or construction insurance policy for your remodel or new build, it is important to note that there will be a maximum payout coverage limit in the policy. You must take into account all overhead, labor, and material costs to determine the estimated complete value of the project. The policy can typically be written on a three month, six month, or twelve month cycle, but can only be extended once, so choose carefully. Our Mission Viejo insurance brokers at PJO Insurance Brokerage can help you determine which policy is best for you based on your needs and goals.