Builders Risk Insurance in Colorado

Builders Risk Insurance By State

Colorado Builders Risk Insurance is a type of property insurance that covers buildings and structures under construction or renovation. It protects the owner, contractor, and subcontractors from losses due to fire, theft, vandalism, wind, hail, and other perils during construction.



Colorado Builders Risk Insurance can also cover materials and equipment that are stored on-site or in transit to the project location. The policy can be customized to fit each project's specific needs and risks, such as the work's duration, scope, and value. Colorado Builders Risk Insurance is typically purchased by the owner or contractor before the start of the project and lasts until the project is completed or accepted by the owner.

If you're looking for reliable and affordable Colorado Builders Risk Insurance, we can help. Our friendly experts are ready to assist you in finding the best deal for your project. We work with some of the top insurance companies in Colorado and can get you competitive quotes in minutes. Here's why builders love working with us:

• Fast and reliable service: Our team of experts is ready to provide fast and reliable service when needed.
• Competitive quotes: We can get you competitive quotes from some of the top insurance companies in Colorado.
• Comprehensive coverage: We offer comprehensive coverage to make sure your property is protected against all perils.
• Flexible Policies: Our policies are flexible and can be tailored to your project's needs.
• Easy application process: Our simple application process makes getting the coverage you need easier.
• Dedicated customer service: You can always contact us with any questions or concerns and we'll provide you with personalized service.
• Affordable rates: Our rates are competitive and you can save even more when you bundle your policies.

At 3R Insurance Agency, we understand the importance of getting the best coverage for your construction project. We'll work with you to find the right policy that meets both your needs and budget.

Contact us today to get started!

Builders' Risk Insurance is important for anyone who owns, manages, or works on construction projects within the state of Colorado. Here are groups who should consider purchasing Builders' Risk Insurance:

• Owners of residential and commercial properties
• General Contractors
• Subcontractors
• Construction Managers
• Developers
• Architects and Engineers
• Suppliers and Manufacturers
• Material Delivery Companies
• Equipment Rental Companies
• Excavation Companies
• Drywall Installers
• Plumbers and Electricians
• HVAC Contractors
• Roofing Contractors
• Painters and Stucco Finishers

No matter what construction project you are working on, it is important to ensure your property and materials are protected.

Colorado Builders Risk Insurance offers a range of coverage options to provide you with the protection you need. Here are some of the forms of coverage that may be included in your policy:

• Fire and Lightning Damage: Covers damages caused by fire or lightning strikes on your property during construction or renovation.
• Windstorm and Hail Damage: Takes care of damage caused by Colorado windstorms or hail on your property during construction or renovation.
• Vandalism and Theft: Covers damages caused by vandalism or theft during the project.
• Equipment Breakdown: Covers equipment breakdowns due to mechanical, electrical, or other causes.
• Flood Damage: Covers damages caused by floods on your property during construction or renovation.
• Contractor Negligence: Takes care of damages caused by contractors' negligence that leads to property damage.
• Business Interruption: Protects you from any losses due to business interruption caused by construction issues or other events on your property.
• Additional Expenses Coverage: For the additional cost of completing projects impacted by unexpected delays, labor shortages, and more.

Some of these forms of coverage may not be available in all policies.

For added protection, you may want to consider purchasing additional coverage options. Here are additional coverage options you may consider:

• Pollution Legal Liability: To cover any legal costs if you’re found liable for pollution.
• Contract Penalty Coverage: To protect against financial penalties due to an unexpected delay in project completion.
• Professional Liability: To cover any professional services errors, omissions, or negligence.
• Product Recall Coverage: To cover any losses due to product recalls caused by faulty or defective products used in the project.
• Commercial Property Insurance: If you own the construction site, you may want to consider purchasing commercial property insurance to protect against any physical damage.
• Builder's Equipment Insurance: To cover any losses due to damage, destruction or theft of equipment used in the project.
• Employee Dishonesty Coverage: For extra protection against employees stealing or misusing materials or funds.
• Design Professional Liability: To cover any errors, omissions, or negligence of design professionals such as architects, engineers and surveyors.
• Worker's Compensation: The state of Colorado requires that all employers provide their employees with worker's compensation insurance.
• Cyber Liability Insurance: To protect against any losses due to a data breach or other cyber-attack.

In addition to the coverage listed above, there may also be other forms of coverage that you can consider based on your unique needs.

While your Colorado Builders Risk Insurance may cover a variety of incidents, certain circumstances are typically excluded. Here are some of the more common exclusions:

• Intentional Acts: Damage caused by intentional acts (i.e. arson) is usually excluded from coverage.
• Wear and Tear: Damage caused by normal wear and tear or corrosion are generally not covered.
• Mechanical Breakdown: Damage caused by mechanical breakdowns or failures are usually excluded from coverage.
• Errors & Omissions: Claims related to errors and omissions of the contractor or service provider are typically not covered.
• Defects in Materials: Damage caused by defects in materials are generally excluded from coverage.
• Fines/Penalties: Payment of fines or penalties imposed by law or ordinance is usually excluded from coverage.

It’s important to read through the exclusions in your policy, as they vary widely between insurers and may impact your ability to file a claim.

When determining how much coverage you need for your Colorado builders' risk insurance policy, it’s important to consider the project's overall cost. You should also account for any costs associated with unexpected delays or labor shortages that could impact your ability to complete the project. Additionally, you should factor in the following seven factors:

• The value of all materials used in the project.
• The cost of any labor involved in the project.
• The cost of necessary permits and licenses.
• The cost to rent or lease tools, equipment, and machinery needed for the job.
• The cost of any architectural and engineering fees related to the project.
• The cost of any additional services required for completion (i.e. legal representation).
• Any other costs associated with the project that must be covered in case something goes wrong.

It’s important to remember that the amount of coverage should be sufficient to cover the full cost of completing the project in case something unexpected happens.

The cost of your Colorado builders' risk insurance policy will depend on a variety of factors, such as the size and scope of the project, the type of materials being used, and the location. Generally speaking, policies can range from $500 to $3,000 per million in coverage.



It’s important to shop around and compare coverage and pricing from different insurers before making a decision. It’s also a good idea to speak with an insurance agent who can provide advice on the best policy for your specific needs.

• Get a Detailed Estimate: Before you begin the project, get an accurate estimate of all costs associated with the project. This will help you determine how much coverage your policy should provide.
• Update Your Policy as Needed: If changes are made to the scope or budget of the project, make sure to update your policy accordingly.
• Review Your Policy Regularly: Read through your policy regularly and ensure that all the details are up-to-date and accurate.
• Take Advantage of Discounts: Many insurers offer discounts for things like safety protocols or contractor training. Take advantage of any discounts available to you.
• Secure Your Property: If the project involves valuable or sensitive materials, make sure to secure them at all times. This will help reduce the risk of theft or vandalism and may result in a lower premium on your policy.
• Maintain Good Records: Keep detailed records of all costs associated with the project and any receipts for materials or equipment. This will be helpful in the event that you need to file a claim.
• Ask Questions: If you have any questions about your policy or the claims process, don’t hesitate to reach out to your insurance agent.
  

Compare Colorado Builders Risk Insurance

You are a few steps away from finding the best coverage for your Colorado Builders' risk insurance policy. Our experienced agents are here to help you navigate the process and make sure you get the coverage you need at an affordable price. 



Contact us today for a free quote!