A Word From Our Sponsor On The Special Extensions That Can Be Added On To A Builder’s Risk Insurance New York Policy

There are very specific things that a builder’s risk insurance New York policy covers, depending on the company it is purchased from. There are also very specific things that policy will not cover. If the construction project you are insuring has unusual requirements, you may want to purchase coverage extensions. As always, it is important to do research and talk to your insurance agent about the type of coverage you need and what specifically the policy will protect.
Some typical coverage extensions include:
Debris removal. This covers the cost of having debris removed from your property, especially after a covered loss.
Scaffolds. This extension would cover scaffolding as well as other temporary building structures while they are in place on your construction site.
Sewer backup. Since water damage is typically excluded from a builder’s risk insurance New York policy, this would allow for extra coverage from sewer backup, which could be a very costly repair if it should happen.
Fire department service. Since in some cases, property tax has not yet been assessed on the property under construction, the local fire department may charge extra to come put out a fire on the property. This addition to your policy would cover the cost of the firemen and their equipment.
Valuable papers. This extension covers loss of blueprints, licenses, plans, etc. and could be worthwhile if a fire or other disaster were to destroy all that paperwork.

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