Builders Risk Insurance - Have the Right Coverage for Your Construction Project

Whether you’re building a new football stadium or a tiny storage shed, every construction project faces the same kinds of problems that can suspend operations. Finishing on time and under budget will keep you and your clients satisfied. Having the proper coverage every step of the way helps the job get done right.

It's important to get equipped with the right builders risk insurance before a project ever begins, and an independent insurance agent can help. Your builders risk insurance will be simple and easy to obtain with the help of a local trusted advisor, and will aid in the success of your project.  This article is compliments of Trusted Choice.

What Is Builders Risk Insurance? 

Builders risk insurance is a special form of property insurance designed to protect construction projects in progress. Coverage will reimburse to repair, replace or recover the current value of a construction project. This includes coverage for various common disasters such as fires, theft, labor costs and storms. 

As a builder or building owner, having the proper builders risk policy in place could save your project (and you) thousands of dollars in expenses. 

Builders risk coverage protects construction projects against the following perils:

• Theft
• Vandalism
• Fire
• Lightning
• Hail
• Explosions
• Hurricanes

Builders risk insurance allows projects to be completed by their original deadline, and construction workers to have peace of mind knowing their materials are protected.

Types of Builders Risk insurance

Now that you have a brief overview of what builders risk insurance is designed to protect against, it's time for a larger breakdown of the many types of coverage commonly offered by this product:

• Equipment breakdown: Protects property and equipment from mechanical breakdowns, as well as the explosion of steam boilers, and more.
• Ordinance and law: Protects against increased rebuilding costs due to ordinances or laws that regulate construction of damaged structures due to covered losses. 
• Identity restoration: Protects against identity theft of the business owner.
• Building coverage: Protects the building under construction, and structures already completed for the project. Swimming pools, storage buildings, fences, retaining walls, and more are covered. Personal property used to maintain these areas is also covered.
• Commercial general liability (CGL): Protects builders against lawsuits filed by third parties for claims of bodily injury or property damage, or advertising injury. CGL insurance is not always included in builders risk policies, so make sure to ask your independent insurance agent about getting coverage that provides this highly important protection.

An independent insurance agent can further explain the types of builders risk coverage and help you determine which options make the most sense for your needs.

To help you through the maze of coverages, carriers, premiums, and find ways to save money on your insurance, contact your Trusted Choice agent, SouthGroup-Gulf Coast http://www.southgroupgulfcoast.com/ , SERVICE TEAM: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Denise Russell, Melissa Moran, Alex Treutel, Mark Strickland,  Anne Gillam, Michael Scardino, Joey Eagle, Cody Barnes, Wendy Butler and Melinda Teaford at SouthGroup Gulf Coast. You can reach us by snail-mail: 412 Hwy 90, Suite 6, Bay St Louis MS 39520 or 2505 Pass Road, Biloxi MS 39531;  email: info@southgroupgulfcoast.com, phone or text:228-466-4498 or 228-385-1177, fax:888-415-8922, FaceBook www.facebook.com/southgroup.gulfcoast. We have 2 Gulf Coast locations to serve you - 2505 Pass Road - Biloxi and 412 Hwy 90 Ste 6-Bay Saint Louis, MS.

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/ Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…

We serve Mississippi, Louisiana, Alabama, Florida, Georgia, Tennessee, Texas and many other states. We specialize in coastal exposures.
Insurance is stressful, but we make saving easy.  We help you save money on insurance!
#trustedchoice #southgroup
#southgroup   @stateauto  @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel #savemoneyoninsurance

SHOW ME YOUR INSURANCE - Ask for a Certificate of Insurance from EVERYONE who works on your property!

There are always risks involved when a contractor or ANY worker works on another person’s property. Accidents happen and sometimes personal property is damage or someone is injured while performing the work. This even applies to your landscaper or tree trimmer or pool cleaner! Any time you or your company hires a contractor you want to be certain that you will not be held liable for injuries, damages or poor quality work. 








Trust - but Verify!





The easiest way to ensure you are not liable is to request to see a certificate of insurance. A certificate of insurance is a standardized document that provides evidence of insurance and liability coverage. It should always include the contractor’s coverage types and liability limits. This certificate also indicates that the policy is current and covers the days for which the work is to be done.

Even if the terms of your agreement with the contractor or subcontractor clearly state that insurance coverage is mandatory, you could face a serious lawsuit if the other party failed to secure that insurance.

Don’t trust past work as a replacement for the certificate of insurance. Even if you have worked with the contractor or subcontractor on numerous jobs in the past, you want to be sure they haven’t allowed their coverage to lapse. They may not even be aware of their loss in coverage. This certificate can protect both you and their business.

Sometimes contractors present a falsified certificate of insurance. You can eliminate this type of fraud by requesting the business insurance certificate directly from the insurance company, which is always a good idea.

Some businesses and individuals take an additional step in safeguarding the project by requiring a surety bond for the work. If the contractor cannot complete the job, the project owner can then tap into the surety bond to finish the project as necessary. Surety business bonds are a three-party agreement between the surety company supplying the bond, the project owner and the contractor.



Some projects will require a surety bond and others may not. Many federal projects or those that cost a certain amount require surety bonds.

Knowledgeable, independent insurance agents at SouthGroup are always available to answer any questions you may have about a certificate of insurance or surety bonds. These qualified agents have years of experience working with contractors and project owners to ensure work is finished on time and with as little risk exposure as possible. Contact a SouthGroup agent near you to find out more.

We are your LOCAL Trusted Choice Advisors, SouthGroup-Gulf Coast http://www.southgroupgulfcoast.com ,  SALES AND SERVICE AGENTS: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Brittany Jones, Denise Russell, Melissa Moran, Alex Treutel, Anne Gillam, Ashlie Moody, Mark Strickland, and Whitney Zimmerman at SouthGroup Gulf Coast. You can reach us by snail-mail or in person: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email: info@southgropugulfcoast.com , phone: 228-466-4498 fax:888-415-8922,  FaceBook www.facebook.com/southgroup.gulfcoast, or Twitter www.twitter.com/atreutel !

We have 3 Gulf Coast locations to serve you - 2505 Pass Road - Biloxi, 5400 Indian Hill-Diamondhead, and 412 Hwy 90 Suite 6-Bay Saint Louis, MS. We write coverage in 40 different states and can assist you with Mississippi insurance, Louisiana insurance, and Alabama insurance and many other states.

Insurance is stressful, but we make saving easy.  We help you save money on insurance!

#southgroup   @stateauto  @libertymutual @TRV_insurance @safecoinsurance @progressive #savemoney @atreutel

Build It Baby! But Be Sure You Have The Right Contractor Insurance Coverage!

As a Contractor or a Consumer, it is prudent to understand the risks associated with building a structure, as well as the ways to protect yourself from a catastrophic loss.

Construction insurance is a catch-all phrase referring to a wide range of insurance products designed for general contractors, specialty contractors (masons, carpenters, framers, plumbers, electricians), homebuilders, remodelers, and other businesses involved in certain areas of a construction project.

Construction insurance is vital to making sure these businesses minimize the risks they face from employee injuries, equipment and materials damage, motor vehicle accidents and more.
Construction firms face complex, costly risks every day—from a project’s start to finish. In fact, the risks that construction companies face are as unique and numerous as the businesses themselves.

However, most of these specific risks can be categorized into one of the following types of exposures: property damage, loss of income, employee injury, illness or death, and liability claims.
Because of the diversity of construction companies and the work that they perform, not every type of construction firm needs the same type of insurance. Your insurance needs should be based on the size of your company, the number of employees you have, and the type of work you do. In general, construction companies should consider the following types of insurance, but not all of them will be necessary for you.  Be sure to consult with your Trusted Choice agent to discuss your exposures and appropriate coverages.

• General liability insurance protects you if your business is responsible for bodily injury or property damage to others. Be mindful that most construction firms need general liability insurance in order to obtain a contractor’s license, so this is not a coverage that you can go without!
• Builders risk insurance provides coverage if you experience business property damage at a construction site.
• Professional liability insurance (or errors and omissions insurance) covers you if a client experiences a loss based upon any professional services you have provided, such as design work or advice.
• Loss of income/business interruption insurance provides coverage in the event that you are unable to operate due to a business interruption.
• Workers’ compensation insurance covers medical and certain other expenses for employees who experience a job-related illness, injury, and even death.
• Commercial auto insurance provides liability and property damage coverage for any vehicles owned by your business or used for business purposes.

Most importantly, as your Trusted Choice Insurance Agent, SouthGroup Insurance Gulf Coast wants you to know you can call on us with your questions or concerns seeking more helpful advice or answers to your pressing insurance questions. A full insurance review is always your best bet to make sure you have all of the adequate coverage for your personal insurance needs. Remember, we offer a personalized insurance review to anyone who is interested at no charge – just visit any one of our 3 convenient coastal locations!

We are your LOCAL Trusted Choice Advisors, SouthGroup-Gulf Coast http://www.southgroupgulfcoast.com ,  SALES AND SERVICE AGENTS: Angelyn Treutel Zeringue, Tammy Garfield, Tammy Hogue, Brittany Jones, Denise Russell, Melissa Moran, Alex Treutel, Anne Gillam, Ashlie Moody, Michael Reso, Mark Strickland, and Whitney Zimmerman at SouthGroup Gulf Coast. You can reach us by snail-mail or in person: 412 Hwy 90, Suite 6, Bay St Louis MS 39520, email: atreutel@southgroup.net , phone: 228-466-4498 fax:888-415-8922,  FaceBook www.facebook.com/southgroup.gulfcoast, or Twitter www.twitter.com/atreutel !

We have 3 Gulf Coast locations to serve you - 2505 Pass Road - Biloxi, 5400 Indian Hill-Diamondhead, and 412 Hwy 90 Suite 6-Bay Saint Louis, MS. We write coverage in 40 different states and can assist you with Mississippi insurance, Louisiana insurance, and Alabama insurance and many other states. Insurance is stressful, but we make saving easy.  We help you save money on insurance!