The facts
Sarah, a general contractor, was overseeing the construction of a new grocery store in Texas. Knowing the risks of weather damage, her company made sure to secure a builders risk policy before starting the project.
During construction, a sudden hailstorm struck the area. Large hailstones damaged the partially installed roofing, windows, and exterior siding. Construction materials on site were also dented and cracked.
Thanks to the builders risk policy, Sarah’s company was able to file a claim for the hail damage. The insurance covered the cost to repair the roof, replace damaged windows and siding, and replace affected materials.
The result
With the claim paid promptly, repairs were made quickly, minimizing delays. The project stayed on schedule, and Sarah avoided unexpected out-of-pocket expenses. The builders risk coverage protected the project budget and helped keep the build on track.
Risk factors
Risk factor #1
This scenario shows how builders risk insurance provides essential protection against weather-related damage like hail. It helps builders avoid costly repairs and project delays.
Risk factor #2
Securing builders risk coverage before construction starts is a smart, proactive step. It ensures financial protection and peace of mind throughout the build, no matter what Mother Nature throws your way..
The claim scenario is strictly documented for illustrative purposes only and provides an example of what a policy could cover. It is intended to provide a general overview of the program described. Please remember only the insurance policy can give actual terms, coverage, amounts, conditions and exclusions. Program availability and coverage are subject to individual underwriting criteria.
