Builders Risk News Roundup: February 2022

For this month's edition of our Product News Roundup, check out the three remodeling topics we’re featuring to help you sell and service construction clients with confidence.

1. New Construction vs. Remodeling 
   New construction is defined as construction from the ground up. Projects are considered remodeling when there is already a completed structure in place.
   
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2. Insuring Existing Structures 

   The existing structure and remodeling work can both be insured on our builders risk policy, in many cases. Zurich values the existing structure at actual cash value; renovations are valued at replacement cost.

   Product Info >  
   
   
3. Policy Extensions 
   Remodeling policy options include six, nine or 12-month terms. Coverage can be extended with underwriter approval. Submit your request to buildersriskrequests@usassure.com prior to the policy expiration date for consideration. 
   
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See you next month when we deliver with another roundup of product news. Until then, you can leverage our resource center to boost your knowledge even more.

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