Policies for installation projects are typically cheaper than those for new construction and remodeling because their timeline is shorter and require less effort. In contrast, renovations, especially with structural changes, can be the highest to insure when an existing structure is included. (Credit: ipopba/Adobe Stock)
Builders risk insurance protects materials, fixtures and/or equipment to be installed during the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause of loss. It's an essential coverage for personal and commercial lines clients. However, how carriers establish premium is not always clear.
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