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Builder's Risk

Course of construction coverage for residential and commercial projects.

Program Details

Program Highlights

The Builder's Risk program provides coverage for:

Residential structures.
Commercial structures.
Available for US based insureds with construction projects in the US, except projects located in Tier 1 counties in FL, TX, LA, MS, AL, GA, SC, NC, VA, MD.
Coverage term available up to 36 months
Minimum Premium $1,000
All Protection classes
Deductible options from 1,000 up to 50,000

Coverages

Coverages available through the Builder's Risk program:

Coverage	Automatically Included	Can be increased (for an additional premium)
Existing Structures	As Declared
Earnings, Rents and Soft Costs	25,000	250,000
Property While at Other Locations	25,000	250,000
Property in Transit	25,000	250,000
Construction Trailers & Contents	25,000	50,000
Trees, Shrubs and Plants	10,000	50,000
Ordinance or Law	100,000	1,000,000
Earthquake	n/a	Building Limit
Flood	n/a	Building Limit
Wind	Building Limit	n/a

Additional Coverages

Coverages automatically included:

Coverage	Automatically Included	Can be increased (for an additional premium)
Construction Documents	10,000
Construction Signs	2,500
Pollutant Cleanup	25,000
Debris Removal	25,000
Fungus, Wet Rot, Dry Rot and Bacteria	10,000
Expediting Expense	10,000
Fire Department Service Charges	5,000
Fire Protection - Device Research Expense	25,000
Contractual Penalties	25,000
LEED Indoor Air Quality Standards Restoration Expense	25,000
Sinkhole Collapse	Included
Testing / Mechanical Breakdown	Included
Blanket Loss Payee	Included
Unintentional Errors or Omissions	Included
Rain, Snow, Sleet, Sand or Dust	Included

Definitions

Soft costs means expenses relating to covered property consisting of:

Advertising and promotional expenses
Architectural and engineering supervisory services and consulting fees,
Audit and bookkeeping services
Commissions or fees for the renegotiation of leases
Fees for licenses and permits
Insurance premiums for builder’s risk, workers compensation and general liability insurance
Interest on the construction loan
Realty taxes and other assessments
Rental or lease expense of construction equipment

Highlights

Lines of Business
Inland Marine

Billing Options
Agency Bill, Credit Card

Minimum Earned Premium
Premium fully earned at binding

Eligible Projects

The limits below indicate the Abacus in-house authority. Projects of any size may be quoted, subject to carrier approval.

Project	New Construction	Addition to Existing Structure	Cosmetic Renovation	Structural Renovation
Apartments, Townhouses, Condos
Frame	7,500,000	7,500,000	7,500,000	Ineligible
Joisted Masonry	10,000,000	10,000,000	10,000,000	Ineligible
Fire Resistive Masonry Non-Combustible Metal Non-Combustible	25,000,000	25,000,000	25,000,000	Ineligible
Residential Dwelling
Frame	7,500,000	7,500,000	7,500,000	Ineligible
Joisted Masonry	10,000,000	10,000,000	10,000,000	Ineligible
Fire Resistive Masonry Non-Combustible Metal Non-Combustible	5,000,000	5,000,000	5,000,000	Ineligible
Strip Malls, Shopping Malls, Commercial Office Buildings Warehouses, Utility (Commercial Towers, Power Plants, Water Plants)
Frame	7,500,000	7,500,000	7,500,000	Ineligible
Joisted Masonry	10,000,000	10,000,000	10,000,000	Ineligible
Fire Resistive Masonry Non-Combustible Metal Non-Combustible	25,000,000	25,000,000	25,000,000	Ineligible
Bridges, Overpasses, Tunnels
All construction types are ineligible

Project Types

Structural Renovations are projects that involve:

Alteration and/or removal of any structural and/or load bearing walls
Construction of additional floors
Alteration, movement or addition of a stairwell or elevator shaft
Addition to the existing structure

Cosmetic Renovations are projects that involve:

Updating of electrical work or plumbing
Updating of carpeting
Replacement of windows and other non-structural aspects of a building.
Removal, movement or addition of interior walls that are non-structural (such as an office "fit out")

Construction Types

Frame

Buildings where the exterior walls are wood or other combustible materials, including construction where combustible materials are combined with other materials such as brick veneer, stone veneer, wood iron-clad, stucco on wood.

Masonry Non-Combustible

Buildings where the exterior walls are constructed of masonry materials as such as adobe, brick, concrete gypsum block, hollow concrete block, stone, tile or similar materials, with the floors and roof of metal or other non-combustible materials.

Joisted Masonry

Buildings where the exterior walls are constructed of masonry materials such as adobe, brick, concrete gypsum block, hollow concrete block, stone, tile or similar materials and where the floors and roof are combustible.

Metal Non-Combustible

Buildings where the exterior walls and the floors and roof are constructed of, and supported by metal, asbestos, gypsum or other non-combustible materials.

Fire Resistive

Buildings where the exterior walls and floors and roof are constructed of masonry or Fire Resistive materials having a fire resistance rating of not less than two hours.

Eligible States

The Abacus Builder's Risk program is currently available for clients located in the indicated states. Hover over each state for a list of lines of business available.

The content displayed on this website is for informational purposes only and is not an offer for insurance. To apply for insurance, contact your broker.
Coverages referenced on this website may not be available in all territories and may vary depending on the exposure. Minimum premiums may vary by state.