A Look at Builders Risk versus Installation Floater Coverage

It is the responsibility of the property owner to purchase property insurance before the construction of the building starts to cover any damage or loss that may be incurred during the construction.

With the financial risk involved in construction projects, both the property owner and the contractor must have multiple insurance options they can choose from. The two most common types of property insurance most contractors choose based on risks and needs of each job are installation floaters, and builders risk insurance.

Commercial builders risk insurance is usually purchased by the property owner to protect the construction project from any loss due to damage or destruction of the property while it is being constructed...

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