Description

This course—Property Insurance for Contractors—examines the coverage provided by three types of property insurance policies: commercial property policies, builders risk policies, and contractors equipment policies.

Commercial property policies provide insurance on existing buildings and their contents. The contractor purchases this type of policy to respond to loss or damage in connection with its own facilities. Builders risk policies provide insurance on property being constructed, installed, altered, or repaired. The builders risk policy for each project may be purchased by either the contractor or the project owner. Contractors equipment policies provide insurance on the mobile equipment that is used in construction activities. They are purchased by the contractor as the owner (or lessor) of the equipment. The course also briefly overviews two other types of property insurance policies that contractors may need: commercial crime policy and equipment breakdown policy.

Approved CE:7 VT