Builders Risk News Roundup: December 2022
Check out these three supplemental coverage options to help you confidently sell and service construction clients.
1) Unsold Dwelling Policy for New Home Construction
After two years of builders risk coverage, existing policyholders can apply for Zurich’s unsold dwelling policy if their new home construction is either near completion or complete and awaiting sale, as long as they intend to sell and not rent the completed structure.
2) Model Home Contents Coverage for Reporting Form Insureds
For residential and commercial projects valued up to $10M, our reporting form policy offers optional insurance for model home contents. To acquire coverage, the contractor must document the value of contents for each specified model home by reporting it on their annual or monthly form.
3) Purchaser Under Contract Policy for Contractors
This three-month policy is available for residential structures previously insured under our Zurich builders risk policy. The coverage is designed to protect a home where the builder collects rent while a buyer is waiting to close.
For more information about these topics, contact our dedicated team at (800) 800 – 3907, option 1.
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