Minnesota General Contractors Insurance
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Minnesota General Contractors Insurance
  • Home
  • Select Classification Now!
    • Appliance Repair Business Insurance
    • Cabinetmakers Insurance
    • Cable Installers Insurance
    • Carpenters Insurance
    • Carpet Cleaning Insurance
    • Carpet Installers Insurance
    • Drywall Installers Insurance
    • Electrician Insurance
    • Excavation Contractors Insurance
    • Framing Contractors Insurance
    • General Contractors Insurance
    • Handyman Insurance
    • Home Builders Insurance
    • HVAC Contractors Insurance
    • Interior Decorators Business Insurance
    • Irrigation Insurance
    • Janitorial Insurance
    • Landscaping Insurance
    • Painters Insurance
    • Paper Contractors Insurance
    • Paving Insurance
    • Plumbing Insurance
    • Roofing Insurance
    • Tile Installers Insurance
    • All Other Classes
  • Other Coverages
    • Bonds – Fidelity/Surety
    • Builders Risk Insurance
    • Commercial Auto Insurance
    • General Liability Insurance
    • Workers Compensation Insurance
  • Blog
  • Bio
  • Testimonials
  • Contact
Call Us Now!
Call Minnesota General Contractors Insurance Now

Builders Risk Insurance

Builders Risk Insurance Minnesota

What is builders’ risk insurance, and what does it cover? Builders risk insurance policy, also commonly referred to as course of construction insurance policy, the name speaks for itself.  – A builders risk policy help protect buildings against damage and loss, and it is for commercial or residential buildings during the construction or renovation phase. It is key to a successful risk management program but can often be misunderstood.

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Coverage can vary depending on your insurance company but generally include fire, windstorms, lightning, explosions, vandalism, theft, and more, depending on the options you choose. This policy can cover more than just the building, and it can cover building materials, supplies, temporary structures, and other things if at the building location.

Builders risk insurace company

What if the property loss causes additional soft costs or expenses. It can cover things not directly related to the construction project like rental income, lost sales, extra interest on loans, and real estate taxes.

Most builders are good at building and not paperwork or insurance; that’s where we come in. Our team of insurance professionals speaks builders risk insurance, and we can guide you through the twists and turns of selecting the proper coverages.

May we please talk with you about your builders’ insurance? We are a local Minnesota independent insurance agency that specializes in contractor insurance. Please click Get My Quote or call 952-469-0425.

Builders Risk Policy

Some of the keywords builders find us under are: builders risk insurance Minnesota, Zurich builders risk insurance, Progressive builders risk insurance.

Some other big named builders risk insurance companies we work with are Auto-Owners, Selective, State Auto, Acuity, Integrity Mutual, Cincinnati Insurance company, Hartford, Nationwide, and Travelers, to name a few.

We can help you with your commercial builders’ insurance or residential. Big or small, we insure them all! Commercial builders and residential home builders love our services.

Insureds on builders’ risk insurance policy are any person or company with a financial interest in the construction project. It can be the general contractor, the property owner, subcontractors, lenders, or even the architects.

Some of the exclusions on a policy are flood, earthquake, wind, or beach zones. If the project had risks like this, we would talk to the carrier about removing the exclusion or adding an extension. Other exclusions are wear and tear, acts of terrorism or war, rust and corrosion, employee theft, damage due to faulty design, mechanical breakdown, poor planning, workmanship, materials, and engineers.

Builders professional

Because this is temporary insurance, it’s essential to know when it starts and ends. The insurance policy tells us what triggers the start of the coverage and the conditions that end it as it expires, is canceled, becomes occupied, or the building is put to its intended use.

Please be reminded our insurance agency can also help you with your general liability, commercial auto, and workers compensation

How Much Does Builders Risk Insurance Cost in Minnesota and How is it Calculated?

Each builder risk insurance policy is equine, and depending on what you need, the costs can vary from project to project. The more coverage and extensions you need to protect the construction project, the more the builder risk insurance cost.

Construction materials, the type of project, location, and details like coverage, limits, and deductible can all affect the price. We will need to know your hard costs as well.

Contact Us for a Quote

We believe you must work with an experienced agent to obtain the right builders’ risk policy for your specific construction project. Each project has different risks, and having an experienced professional on your side makes a difference. Please tell us about your next construction project; we are listening.

Let us quote multiple insurance companies and find the best builders’ risk insurance policy for your hard-earned money.

Please complete our online form or give us a call at 952-469-0425. Our agents are standing by to help you get a customized insurance policy with low payments.

 

Frequently Asked Questions (FAQ)

Q- What is the difference between builders’ risk insurance and property insurance?

Ans:- A builder risk covers building and structures while being built and is a temporary policy, and it covers during the course of construction. In contrast, property insurance covers completed buildings and contents, which is permanent insurance.

Q- Who typically pays for builders’ risk?

Ans:- The general contractor or owner/developer typically pays for the policy. Builders’ risk is essential coverage for building projects as it helps pay for losses for all who have invested.

Q- What is the average cost of builders’ risk insurance?

Ans:- The average cost for builders risk is roughly 1-5% of the total construction budget per month. To give you an example, if your budget is $500,000 and you buy a 3-month policy, you can expect to pay $1,500 to $2,500. Hard costs are a crucial factor in calculating the cost.

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Minnesota General Contractors Insurance Quotes and Information

952-469-0425

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Friendly Insurance Office

20960 Holyoke Ave PO Box 1177 Lakeville, MN 55044, USA

952-469-0425

952-469-1881

info@insuringminnesota.com

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Minnesota General Contractors Insurance.com is a service of Insuring Minnesota. Rick McIntosh and his dedicated team of highly qualified professionals is committed to finding the best coverages and prices for your Minnesota general contractor’s insurance. We give free instant MN contractors insurance quotes, and fast online MN contractor general liability insurance quotes for all Minnesota contractors. We provide Minnesota construction companies, contractors general liability insurance, commercial auto insurance, workers compensation insurance and surety bonds. Some of the keywords which can be used to find our services include: Minnesota general contractors insurance, MN contractor insurance, Minnesota contractor liability insurance, MN contractor liability insurance, MN contractor liability insurance quotes, low cost Minnesota contractor’s general liability insurance quotes, contractor insurance for MN contractors, cheap MN contractor comprehensive general liability insurance, low cost MN contractor liability insurance. Contractors in Minnetonka, Apple Valley, St. Louis Park, Mankato and Edina love our services. Not to mention Farmington, Hastings, Rosemount, Prior Lake & West St. Paul. Get a Free online Minnesota Contractor Liability Insurance Quote today!

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