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Address: 10655 FM 1097 Willis, TX 77318
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Phone: (936) 465-9981
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Email: service@tghinsurance.com
When it comes to construction projects in Texas, whether it’s building a custom home, remodeling a commercial property, or developing large-scale projects, Builders Risk Insurance is essential. This specialized coverage safeguards your investment from unexpected risks during the construction process. At TGH Insurance, we help contractors, property owners, and developers secure peace of mind with tailored Builders Risk Insurance policies.
What Is Builders Risk Insurance?
Builders Risk Insurance, also known as Course of Construction Insurance, is a type of property insurance designed to cover buildings and structures under construction. This policy provides coverage for damages to the property and materials caused by unexpected events such as:
- Fire
- Theft or vandalism
- Weather-related incidents (hail, windstorms, etc.)
- Accidental damage
Unlike general liability insurance, Builders Risk Insurance focuses on the physical construction itself, offering financial protection for materials, labor, and temporary structures.
Who Needs Builders Risk Insurance?
Builders Risk Insurance is ideal for anyone involved in a construction or renovation project, including:
- General contractors
- Subcontractors
- Developers
- Property owners
- Architects or engineers (if required in contracts)
If you’re financing a construction project, lenders may require this coverage to protect their investment.
What Does Builders Risk Insurance Cover?
Builders Risk policies typically include:
- Property Damage: Coverage for the structure under construction, including materials and supplies on-site.
- Equipment and Tools: Protection for essential equipment used during construction.
- Soft Costs: Coverage for delays caused by covered events, such as additional interest payments, legal fees, or project management costs.
- Temporary Structures: Includes scaffolding, fencing, and other structures used during the build.
What Isn’t Covered?
While Builders Risk Insurance offers comprehensive protection, certain risks may not be covered, including:
- Employee theft
- Tools or equipment owned by contractors
- Workmanship errors
- Floods or earthquakes (unless added as endorsements)
To ensure full protection, it’s important to discuss additional endorsements that can be added to your policy based on your project’s unique risks.
How Much Does Builders Risk Insurance Cost in Texas?
The cost of Builders Risk Insurance varies based on several factors:
- Project Value: Higher construction costs typically lead to higher premiums.
- Location: Risks like extreme weather or high crime areas can affect costs.
- Coverage Duration: Policies typically last 3, 6, or 12 months, with extensions available if the project timeline is delayed.
At TGH Insurance, we work with multiple carriers to provide competitive rates that fit your budget while ensuring robust coverage.
Why Choose TGH Insurance for Builders Risk Insurance?
As a trusted independent insurance agency serving Texas, TGH Insurance has extensive experience in Property & Casualty Insurance. Here’s why clients choose us for Builders Risk coverage:
- Personalized Service: We take the time to understand your project and tailor coverage to meet your specific needs.
- Access to Top Carriers: We partner with leading insurance providers to offer the most competitive rates.
- Expert Guidance: With years of industry expertise, we help you navigate the complexities of Builders Risk Insurance and secure optimal coverage.
Get Started Today
Protecting your construction project is as important as completing it. Builders Risk Insurance ensures that you’re financially covered from unforeseen risks, allowing you to focus on getting the job done.
Contact TGH Insurance today for a personalized quote or to learn more about Builders Risk Insurance. Let us help you build your projects with confidence and security!