Boardwalk Insurance Now Offers Commercial And Residential Building Renovation Insurance Coverage
Renovation can be cheaper than tearing down and building a new structure from scratch. However properties undergoing renovation can be dangerous. There are many tools and potentially hazardous chemicals on the property that can cause significant damage if someone is in the wrong place at the wrong time.
- Houston, TX (1888PressRelease) August 04, 2012 - Renovation insurance protects the property while it is still being worked on. Renovation insurance is a form of property insurance, protecting from losses caused by many hazards, such as fire, smoke, vandalism, lightning, and explosion. While the company completing the renovations is trusted to work as safely as possible, potential hazards still exist, making renovation insurance extremely important as the property is being improved.
WHY IS IT IMPORTANT TO HAVE BUILDING RENOVATION COVERAGE? HERE ARE POTENTIAL LOSS SCENARIOS:
1. Damage by fire
2. Smoke damage
3. Damage caused by vandalism or malicious mischief
4. Lightning striking your building
5. Loss due to explosion
THE FOLLOWING ARE IMPORTANT TO HAVE IN A POLICY:
COVERAGE AND PRODUCT FEATURES:
1. Coverage for partially occupied building available
2. Contact within 24 hours of claim to report by adjuster
3. Coverage for additions that do not involve load bearing members of building
4. Replacement cost coverage for new construction portion of the project
5. Coverage can be written for the full term of the project
6. Product flexibility offering either Basic or Special Form
7. Replacement Cost Valuation is standard on the new construction work
8. Project can be written for the full duration of the construction project
9. Rate structure contemplates new construction work being added gradually to the existing building
LIMITS:
1. Up to $3,000,000 per location in PC 1-8
2. Up to $1,000,000 per location in protections class 9-10
Limits of up to $500,000 per location excluding wind and hail in coastal areas
Renovations can be costly, even if necessary, so protection from loss through renovation insurance is extremely important. To find the best renovation insurance, an independent insurance agent, such as a representative from Boardwalk Insurance Group, can do the work of shopping around to find the best renovation insurance policy available. With 23 affiliated insurance providers and licensed to write policies in over half the United States, Boardwalk Insurance Group has the ability to take the time to understand your needs and create the most appropriate policy for you. For more information, please visit: http://www.boardwalkinsurance.com
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