Soft cost coverage reimburses the owner or contractor for additional expenses caused by a covered delay — including extended interest on construction loans, additional architect or engineering fees, increased permit ...
Bridgeway Insurance can typically provide a builders risk quote within 24 to 48 hours, provided the construction value, project address, scope, and start date are available. Complex projects with high ...
Yes — most builders risk policies cover theft of building materials on-site and in transit, typically up to a sublimit of 25% of the policy limit. This includes copper wire, ...
Yes. Homeowners undertaking major renovations, additions, or rebuilds where the existing homeowners policy will not respond can purchase a builders risk policy. This is common for additions, gut renovations, and ...
None of the seven states Bridgeway serves (MS, AL, LA, FL, TN, NC, GA) statutorily mandate builders risk insurance. However, virtually every construction lender requires it before disbursing funds, and ...
Common exclusions include flood, earthquake, employee theft, faulty workmanship or design, normal wear and tear, war or terrorism, and damage from contractors' tools and equipment unless specifically scheduled. Notably, soft ...
Standard builders risk policies exclude flood damage. For projects in Special Flood Hazard Areas (SFHAs) — common throughout coastal areas, the lower Mississippi River basin, and floodplains across the Southeast ...
Yes — but coastal builders risk policies typically include a separate named-storm or hurricane deductible (commonly 2% to 5% of the total insured value) rather than a flat-dollar deductible. On ...
It depends on the construction contract. AIA standard contracts typically place responsibility on the property owner, while design-build and many custom-home contracts place it on the contractor. Importantly, the named ...
Most builders risk policies are written for 3, 6, 9, or 12 months — matching the projected construction timeline. Coverage typically ends when the certificate of occupancy is issued, the ...
