June 2017
Builder’s risk insurance, a form of property insurance, covers a building where the building or insured area is being constructed. Sounds pretty clear, right? Not so quick—there is a great deal of confusion about what the builder’s risk policy actually covers when damage occurs. When it’s time to assess losses and file a claim, the policy can all of a sudden be rigged with unexpected landmines if the insurer tries to minimize or eliminate payouts.
