Complete our Iowa Builders Risk Insurance quick quote form or call 952-469-0425.

Is your business protected with Builders Risk insurance Iowa?

If you are in the builder’s business and own a construction company for commercial or private properties, be it for renovation or new projects, having builders’ insurance is necessary.

Request for a free home builder insurance Quote

The bigger your business is, the more resources you will need. And with resources, the risk of losing also gets bigger. And that is exactly where builders’ risk Insurance policy comes into the picture.

Regardless of what kind of building a business you are in, our Iowa Builders Risk insurance plan will cover your business from all aspects and provide you with the exact protection that your business needs to survive. Contact Iowa Contractors Insurance today at 952-469-0425!

Local builder risk insurance company in Iowa

What is a Builder’s Risk Insurance?

Builders’ risk insurance covers construction companies and property owners during ongoing construction. The insurance policies protect workers and builders from general perils while working on remodels, renovations, or constructions. Moreover, builders’ risk insurance protects used materials, equipment, and labor against perils and structures.

Why Do You Need Builder’s Risk Insurance?

When you are in the construction business, it is necessary to have insurance. Damages or delays can put additional pressure on the budgets and bring in a lot of financial strain. So, it is essential to have home insurance that can support all your additional expenses.

Course of Construction Insurance / Builders Insurance and More

Here at IOWA Contractor Insurance, we have a range of curated policies to help our customers provide ultimate protection to their business.

  1. Commercial General Liability Insurance:

General liability insurance provides ultimate protection to your business, including your workers. Our general commercial liability insurance protects your business from the following types of claims:

  • Damage to other people’s properties
  • Bodily injuries and deaths
  • Advertising and personal injury

Our general liability insurance also helps to protect against the cost of damages and losses incurred in the event. For example, commercial general liability covers your legal defense cost and medical fees and acts as a form of protection should you be held liable for any damage or injury is done on behalf of your company.

  1. Workers’ Compensation Insurance:

Workers’ compensation insurance is considered a crucial requirement for all builders companies in Iowa. If you own an Iowa builders company, it is only fair to provide your employees with complete workers’ compensation. The job nature could get your employees injured or may get injured through no fault of their own by a third-party subcontractor they had hired earlier that day.

Builder risk insurance coverage

During this process, workers’ compensation insurance can help them and their families financially if they sustain any injuries while at work. And even though you might be able to deal with one or two cases per year like those mentioned above, it will still be crucial for you as the person in charge of the business to make sure that the team has complete financial security because let’s face it – accidents do happen!

  1. Equipment and Tools Insurance

Equipment and tool insurance provides the best protection for your finances in the event that an employee or a customer is injured while working with one of your tools or if they damage an expensive piece of equipment by neglecting to use its safety features. General liability insurance will cover you somewhat, but it’s better not to leave yourself exposed at all. Some of your larger and more expensive tools could be easily replaced if stolen or damaged, but some tools are so expensive that simply replacing them can cause you to go out of business! It’s better to replace the services you offer than replace the equipment itself because this covers you for lost profit due to the time needed for repair or replacement.

Builders Risk Insurance Iowa – Frequently Asked Question

Question: What does the builder’s risk cover?

Answer: Builder’s risk insurance pays for damages in the event of a loss, such as fire, theft, or vandalism. This type of insurance is typically used during a build and ensures the owner will not be financially burdened with the cost of repairs or necessary replacement materials should one of these listed incidents occur.

Question: Do you need a builder’s risk policy?

Answer: Builder’s risk insurance is a form of property insurance issued specifically for homes under construction. It covers property damage and other risks associated with the home site during the period of construction. Though it generally covers property that is prone to damage from natural disasters, it also encompasses man-made issues, including vandalism, fire, and explosion.

Question: Does the builder’s risk cover the owner?

Answer: It’s always a good idea to make sure you have builders’ risk insurance regardless of whether your project is in progress or completed. It’s typically the responsibility of the general contractor to get a policy protecting all parties involved in construction, such as an owner/ developer, design team, and workers who are building the property.

Request for a free home builder insurance Quote

Just complete our quick quote form or give us a call at 952-469-0425 today and we will create a custom builders risk insurance plan for you.