What Is Builders' Risk?
Sheets and more
A Builders' Risk insurance policy offers protection to a commercial or residential building that is in the process of being constructed in case of damage or loss to the structure while construction is underway. Builder’s Risk policies can be purchased for new construction or remodel projects.
Acadia Insurance Provides Builders' Risk for:
- New Construction, Renovation, and Rehabilitation projects
- Residential, Commercial, Industrial and Public Construction projects
- In house capacity of up to $50 million in value
- Additional capacity available
Our Builders' Risk Policy can include the following coverage features:
- Transit and temporary storage
- Flood and Earthquake
- Equipment Breakdown, cold and hot testing
- Delay in Completion, delay in start-up, soft costs, consequential loss and additional income
Coverage for Green BuildersEven though many features of green construction are covered in a standard Builders' Risk policy, you may find that expenses necessary to comply with your green certificate are not covered in the basic policy after a loss. Acadia’s builders’ risk policy includes several coverage enhancements for green builders.
Green Building Coverage:
- Proper Disposal of damaged property and debris to a recycling facility.
- Recertification of the structure in accordance with green certification standards.
- Restoration of air quality to standards set in their air quality plan.
- Electricity or Water Replacement if your generating or conservation equipment is damaged.
Green Delay in Completion Coverage
- Obtaining wood from sustainable forests.
- Materials imported from great distances or materials that are in short supply.
- Additional advertising and financing expenses after the damage is done.
- Loss of surplus power income from the inability to feed power due to damage to energy generating equipment.
- Increase of lost income from the completed project due to delays in the recertification process.
Renewable Energy Installation
- Solar Panel installation, including hard cost, with transit and off-site storage.
- Testing and Equipment breakdown.
- Delay in Completion with soft costs, additional construction expense and loss of income.