Renovation Project Insurance
At Baldon Insurance Group, we understand the complexities and unique risks associated with renovation projects.
Whether you are renovating a single property or managing multiple renovation projects, having the right insurance coverage is essential to protecting your investments and ensuring peace of mind.
Our renovation project insurance solutions provide comprehensive protection designed to meet the specific needs of property owners, managers, and contractors involved in renovation work.
Specialized Insurance Solutions for Renovation Projects
Why Choose Renovation Project Insurance?
Renovation projects present a unique set of risks, including property damage, theft of materials, and accidents on the job site. Standard property insurance policies often do not cover buildings that are under renovation. Our renovation project insurance is specifically designed to bridge this gap, offering protection against a wide range of potential issues.
Who Needs Renovation Project Insurance?
Our insurance solutions are ideal for a variety of real estate entities and professionals involved in renovation projects, including:
- Property Owners: Protecting properties undergoing renovation.
- Property Managers: Managing multiple renovation projects and ensuring their safety.
- Contractors and Builders: Covering materials, labor, and equipment used in renovation projects.
- Real Estate Investment Trusts (REITs): Safeguarding investments in properties under renovation.
Core Coverages for Renovation Project Insurance
General Liability Insurance
Our general liability coverage protects against claims that your renovation project caused bodily injury or property damage. This policy helps meet contractual needs for additional insureds, waiver of subrogation, and primary and non-contributory coverage.
Property Insurance
Our property insurance protects your buildings and facilities during renovation. Key coverage extensions can include:
- Newly Acquired Property: Protection for newly acquired properties undergoing renovation.
- Utility Services Interruption: Coverage for losses due to utility service disruptions.
- Ordinance or Law: Covers costs related to compliance with new building codes during renovation.
- Green Coverage: Costs to upgrade to energy-efficient systems after a loss.
- Debris Removal: Expenses for removing debris following a covered loss.
- Preservation and Protection of Property: Covers measures taken to protect property from further damage.
- Outdoor Trees, Shrubs, Plants, Lawns, or Sod: Protection for outdoor landscaping.
Builder’s Risk Insurance
Builder’s Risk Insurance protects contractors and property owners from unique risks on renovation projects. This coverage includes protection for construction materials, heating and air-conditioning equipment, labor costs, and temporary structures like scaffolding and construction signs.
Pollution Legal Liability
Designed specifically for property owners and contractors, this coverage protects against liabilities arising from environmental contamination during renovation projects, ensuring compliance with environmental laws and regulations.
Cyber Liability Insurance
In today’s digital age, cyber liability insurance helps your business prepare for, respond to, and recover from cyberattacks. This coverage includes protection against data breaches, ransomware, and other cyber threats, which can be particularly important if renovation projects involve digital records and communications.
