1-4 Family Builders Risk Package

PROGRAM OVERVIEW

New York Builders Risk Without the Labor Law Gap

Coverage for 1–4 family homes under construction or renovation — including high-risk and high-value properties.

1–4 Family Builders Risk Package designed for high-value and complex residential projects — including coastal, renovation, and distressed properties – NO LABOR LAW EXCLUSION (NY)

Most builders risk policies in New York fall apart when it matters most — especially around Labor Law exposure and complex renovations.

This program is built differently

✔ No Labor Law Exclusion

✔ Mono-line Builders Risk Property

✔ Coverage during construction and renovation

Flexible Underwriting Advantage:

If the GC doesn’t meet standard requirements, we can still write project-specific coverage — as long as we package the risk correctly.

We’re writing risks others avoid:

  • High-Value Properties
  • Coastal Homes
  • Vacation/Seasonal Homes
  • All Construction Types
  • Homes With Structural Issues
  • Houses that are being expanded – Adding floors, horizontal extensions

Coverage Includes:

  • Special Form
  • Buildings or Structures Under Construction
  • Scaffolding, Fencing, And Temporary Structures
  • Uninstalled Building Materials
  • Property In Transit

No Labor Law exclusion. Flexible underwriting. Designed for real-world NY projects.

Send submissions to Contact@FlexibleAgency.com

Coverage Insights: The Basics of Builders Risk Insurance

Building and construction projects are complicated with no shortage of things that can go wrong. With everything that can happen during the construction process, it is essential to have the proper insurance in place. Of all of the different insurance coverages to consider, builders risk insurance is one of the most essential for companies in the construction industry.

While builders risk insurance, also sometimes referred to as course of construction insurance, is important, it is also very complex and easily misunderstood. This Coverage Insights examines what you need to know about builders risk insurance and how it can protect your company.

Download the Article

What Is Builders Risk Insurance?
Builders risk insurance is a specialized type of property insurance that is intended to provide protection for buildings and structures that are under construction. These policies protect project owners, general contractors and subcontractors against direct physical loss or damage to covered property.

In many instances, builders risk policies also provide coverage for materials and supplies that are on-site, in transit and being stored temporarily at off-site locations if they are intended to become a permanent part of a building or structure. What’s more, builders risk policies can be written to include coverage for loss of income and additional expenses. This coverage would apply if the completion of a project is delayed due to property damage caused by a covered cause of loss.

Builders risk coverage is a temporary form of insurance. Coverage applies only during the course of construction, erection and fabrication. In most cases, builders risk coverage stays in force until a construction project is accepted by the project owner or once construction is considered complete. Once construction is completed, it is up to the owner of the building or structure to secure traditional property insurance.

Another thing to keep in mind is that there is no standard form of builders risk insurance. Policies can vary between insurance companies, and, in many instances, the coverage terms of a builders risk policy can be negotiated. In most cases, builders risk policies are written on an “all risk” basis. This means that coverage applies for all causes of loss except those specifically excluded by the policy.

What Am I Protected From?
Builders risk insurance can cover a wide range of causes of property damage. The exact parameters of your policy may vary, but in general, builders risk insurance includes coverage for the following causes of property damage:

  • Fire
  • Wind
  • Hail
  • Theft
  • Lightning
  • Explosion
  • Impact by vehicle or aircraft
  • Vandalism

It is important to comb over your policy carefully in order to make sure you are aware of what is and isn’t covered under your builders risk insurance. Builders risk policies often do not provide coverage for property damage caused by flaws in design, planning or workmanship. Other specific exclusions may be included in your policy. While exclusions vary from policy to policy, the following cases of loss are typically not covered under builders risk policies:

  • Property damage caused by employee dishonesty or theft
  • Property damage caused by earthquakes
  • Acts of war
  • Government actions
  • Mechanical breakdowns

Talk to Your Broker
Builders risk insurance is necessary coverage for many businesses. Remember, we’re here to help you with all of your construction industry insurance needs. Protect your project, your wallet and your company by contacting Flexible Agency, Inc. to discuss builders risk insurance today

Reach out to Flexible Agency for:

  • 1-4 Family Builders Risk Package
  • Owner’s Interest Liability – No Action Over Exclusion
  • High-Value Homeowners Policies
  • NY Construction and Contractors Insurance – No Labor Law Exclusions
  • Premises Environmental Coverage
  • Wind Buy Back Program
  • Business Owners Policy (BOP)
  • Sexual Misconduct and Molestation Liability Coverage
  • Cyber Liability Policy

Send submissions to Contact@FlexibleAgency.com

Looking to support your insureds beyond coverage? Reach out to our sister companies.

Visit Ecco Agency, Inc. for Voluntary Employee Benefits Packages through Combined Insurance, Backed by Chubb

  • Business Owner’s Policies (BOP)
  • Cyber Liability Policies

Visit Stellar Marketing Services for non-insurance Risk Reduction Services and Protective Safeguards

Call us at 631-754-0562 to discuss insurance solutions.

About Flexible Agency

Flexible Agency Inc is a boutique wholesale broker and program manager offering full-service access to niche insurance markets.

Relationships with the industry’s leading domestic, admitted and non-admitted insurance companies, as well as Lloyds of London, allow us to assess your specific risks and review policy coverage and forms to provide you with creative, alternative insurance coverage solutions in New York and New Jersey.

Contact

Michael Fleischer

Office: 631-754-0562

Fax: 631-368-4229

MFleischer@FlexibleAgency.com

Office

12 Little Neck Road, Suite 202

Centerport, NY 11721

Our Sister Companies

Ecco Agency, Inc. – Retail Insurance

Stellar Marketing Services – Risk Reduction Services for Protective Safeguards Endorsements

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