Builders Risk – Residential

For new residential construction projects, Zurich offers Inland Marine coverage on a per-project basis or on a reporting form/blanket basis and includes a renewal option of up to two additional years. A separate policy for unsold dwellings is available.

residential construction

Business owners: Contact your insurance agent or broker

Insurance agents

Call a specialist now 847-762-7178

Appetite

  • Commercial and residential structures during the course of new construction or remodeling

Geography

  • Nationwide

Ineligible risks

  • Mobile homes
  • Registered historical structures
  • Structures built over water

Coverages offered

  • Inland Marine
  • Coverage available on a single structure, reporting form or blanket (deposit premium) basis
  • Provide addresses of project locations.
  • Provide total completed value of projects.
  • Projects up to $75 million are eligible, subject to underwriting approval.
  • Coverage for remodelers (including major structural renovation), purchasers under contract, model homes, model home contents, tools and equipment, trade-ins and unsold dwellings is available.
  • Rating and underwriting guidelines apply.
  • Business Income, Waiver of Coinsurance and other coverages are available for commercial structures.
  • Residential and small commercial single structure policies are written on an annual basis and may be renewed for up to an additional two years
  • A separate policy will allow two years of additional coverage for unsold dwellings.
  • Large commercial policies may be written with customized policy terms.
  • $1,000 deductible is standard on all policies
  • A minimum premium ($375 in most states) applies on one-shot policies.
  • Admitted
  • Builders are required to have at least two years of general contracting experience.