Builder's Risk Insurance

Builder's Risk Insurance is mandatory for remodeling, installation, and residential and commercial construction. We know that every blueprint is different, that's why Praxis Insurance Associates covers projects of any size and provides policy quotes with flexible options. Our claims team is second to none, responding quickly and around the clock. Whether the project is big or small, you can rest assured that Praxis has you covered.

 

Builders Risk and Remodelers Insurance

  • Both residential and commercial new construction, remodeling and installation
  • Projects of any size
  • Includes wind and flood (wind is excluded from properties within 1,000 feet of tidal water or on a barrier island)
  • Admitted carrier
  • $1,000 deductible is standard
  • $375 minimum premium for one shot policies
  • Business income and waiver of coinsurance available for commercial structures

Policy Options

  • One shot for single structure, or reporting form for ongoing projects
    Builder's Risk Insurance with Praxis Insurance Associates - Worker using hammer as he works on construction
  • Both annual and monthly reporting available for ongoing projects
  • Policies can be insured in the name of the contractor or owner
  • Direct billing and premium payment installment options

Builders Risk Eligibility

  • Catastrophic limits up to $5million, higher limits available with additional information
  • Builders must have 2 years experience in the industry, 3 for large commercial accounts
  • Properties owned by banks are not eligible, unless written in the builder’s name
  • Construction must be less than 30% complete at policy inception

Remodelers Eligibility

  • Occupancy is allowed if the structure is occupied by the owner, who is performing the renovations
  • Non-coastal structures up to 75 years old and coaster structures not more than 40 years
  • Existing structure is covered on an actual cash basis
  • Coinsurance applies
  • Options of 6, 9, or 12 month policies are available

Download our Builder's Risk Supplemental Application Below:
Praxis Insurance Associates Builders Risk Supplemental Application

Targeted States

Alabama
Arizona
Arkansas
California
Colorado
Florida
Georgia
Illinois
Indiana

Louisiana
Maryland

Massachusetts
Michigan
Mississippi
North Carolina
North Dakota

Nevada
New Jersey

New York
Ohio
Pennsylvania

South Carolina
Tennessee
Texas
Utah
Virginia
West Virginia

For more information regarding our builder's risk programs email us at info@praxisins.com.