Builders Risk Insurance in San Antonio, Texas
Construction projects can present lucrative opportunities but are often rife with risks and exposures. As members of one of the most dangerous industries in the United States, construction companies must be mindful of many incidents and perils, especially involving jobs in progress. Such sites can be quite vulnerable, necessitating investment in appropriate risk management and loss control measures, such as builders risk insurance. 
What Is Builders Risk Insurance?
As a core pillar of many construction businesses’ insurance portfolios, understanding and retaining builders risk insurance should be a top priority. These policies establish contractual agreements that can offer financial aid following incidents affecting projects, including fresh construction and renovations or additions. In exchange for your premiums, you can file a claim for financial aid following covered incidents. If approved, payouts could limit out-of-pocket losses up to your policy limits and minus your deductible.
What Do Policies Cover?
Builders risk insurance may help pay for losses and damages arising from many common incidents, including fires, theft, burglary, vandalism, explosions and some natural disasters. Should such perils damage the following assets, your policy may help pay for losses:
- Buildings under construction
- Temporary structures, such as fences and scaffolding
- Machinery, tools and equipment
- Building materials and inventory
- Important documents (e.g., specifications, blueprints and contracts)
Who Needs Coverage?
Builders risk coverage is integral for suitable risk management and loss control measures for many construction projects. While legal requirements and contractual obligations may vary, general contractors are often tasked with retaining coverage. Regardless of exact details, stakeholders should generally ensure the following parties are listed as insureds on a policy:
- Property owners
- Developers
- General contractors
- Subcontractors
- Engineers
- Architects
- Lenders
Get the Right Coverage
Contact Zenitram Insurance Agency LLC to learn more about builders risk coverage or to get a free and personalized quote.