FAQs

Generally yes. Business interruption coverage responds to lost income and the continuing expenses you still have to pay during a covered shutdown, which commonly includes rent, payroll, and utilities. ...

It is a time element coverage attached to the property policy, not a policy of its own. On a business owners policy it is usually built in. On a ...

For the period of restoration, which is not the same as how long you are actually closed. The clock runs from the date of loss and ends when the ...

It follows physical damage, which is what rules most of the disappointments out. There has to be direct physical loss or damage to covered property from a covered peril, ...

Secure the site first, then document before anything is cleared. Photograph the damage in place, and keep the daily logs, the schedule, the subcontractor list, and the delivery tickets ...

Yes, builder’s risk is commonly used for renovation work as well as new construction. It typically covers the work in progress and the materials intended to become part of ...

Not in the base form. That is soft cost and delay in completion coverage, added separately. The base policy pays to repair the damaged work. It does not pay ...

Usually everyone with money in the project, and the order matters. The owner, the general contractor, and the subcontractors each have an insurable interest, and a policy naming only ...

Builder’s Risk Insurance typically does not cover injuries on the job site, employee theft, or liability claims. Those usually sit with General Liability Insurance and Workers’ Compensation. Builder’s risk ...

The venue usually decides it. Most venues and municipalities specify a required limit and additional insured wording in the rental agreement, and that becomes the floor. Beyond that, attendance, ...