Get A Free Builder’s Risk Insurance Quote in Maryland From Erie® Insurance

As a contractor, knowing that you have the right coverage your business needs, from your tools and crew to the very work you perform, will help you keep things running on schedule. Erie understands this, which is why we developed a special contractors insurance program. From property damage to tools to contractor liability insurance, this mix of policies, endorsements and services gives your business the protection it really needs.

You Could Save Up To 40% On Builder’s Risk Insurance in Maryland By Requesting A Fast & Free Quote

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About Builder’s Risk Insurance

Builder’s risk insurance is a policy that is designed to provide coverage for buildings while under construction. It covers the contractor’s interest in materials at the job site before they are installed, materials in transit intended for the job, and the value of the property being constructed until it is completed and accepted by the owner. The policy may be written to cover the whole structure for new construction or the cost of remodeling and renovation projects. It can also be used to cover specific projects, such as a new room addition, a deck, or a remodeled bathroom.

Builder’s risk insurance usually is in the name of the contractor or the property developer, but it could also be in the name of the property owner if he is responsible for insuring it while the property is under construction. Both commercial and residential construction sites might be covered under a builder’s risk insurance policy.

There are also additional built-in schemes for the specialized needs of a particular construction project, whether it’s commercial or residential. Often, insurance companies request a certain level of experience of the builder before they provide insurance coverage for their commercial sites. Usually, an experience level of 2-3 years in commercial construction is desired.

Worker Construction Safety Construction Workers

An additional option that can be attached with builder’s risk insurance coverage is the movement of earth. If the construction is extremely large, then the cost of moving earth from the digging site could amount to a great deal.

A builder’s risk insurance policy is essential for people who have a financial interest in property construction, either commercial or residential. It doesn’t mean only new construction, but also any remodeling or renovation project.

If any damage to construction material occurs in transit or during storage, then this cost could also be covered under a builder’s risk insurance policy.

Your Liability

Contractor liability coverage: In case a third party alleges bodily harm, injury or property damage caused by your negligence.

Damage to others’ property in your care: In case an accident causes damage to someone else’s property that’s in your care, custody or control. (Available for purchase on select policies.)

Business auto: To protect you, your drivers and your business in many important ways. (Available for purchase as a separate policy.)

Your Property, Tools, and Equipment

Coverage for property losses: For things like vandalism to your business, fire damage to your equipment and more.

Contractors tool/equipment coverage: For tools stolen from your building, at a job site or somewhere else. (Available for purchase as an additional coverage.)

Builders risk and installation coverage: For the materials, fixtures and/or equipment you’re using at a job site during the course of the construction or renovation. (Available for purchase as an additional coverage.)

Your Employees & Work

Workers’ compensation: In the event an employee suffers an injury or disease arising in the course and the scope of their employment, regardless of negligence on your part. (Available for purchase as a separate policy.)

Completed operations coverage: For third-party claims alleging bodily injury and/or property damage caused by your business’s completed work.

Contractors Errors or Omissions: If the work you perform was done incorrectly or negligently. (Available for purchase as an additional coverage.)

Here are some of the extra ways that Erie contractors insurance goes above and beyond.

Data Breach
To notify and assist affected individuals and provide your business with crisis resolution services. (Available for purchase as an additional coverage on select policies.)

Sewer & Drain Backup
To cover a loss caused by water or sewage that backs up through sewers or drains or overflows from a sump pump. (Available for purchase as an additional coverage.)

Electronic Data Coverage
To cover loss from a computer virus that corrupts your computer system.

Employee Dishonesty
To protect you against employee theft, which is a situation that can be hard to detect and often goes on for an extended amount of time.

Forgery & Alteration
In case someone forges your business checks or fraudulently uses your business’s credit or debit card.

Valuable Papers
To restore or replace important financial documents, deeds and more.

Great Service is Part of the Package

Risk Control
You have access to risk control tools and services to help you identify and reduce common business risks.

Your Local Erie Agent
Your independent local Erie agent is there for you from quote time to claim time and every time in between.

Early Return-To-Work Program
We help your injured employees receiving workers’ compensation benefits resume meaningful employment as soon as they are medically able.

Does your business have the right level of protection? If not, let’s talk!

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