Builder's Risk
What is it?
Frontier Risk's Builder's Risk insurance is the backbone for any construction or renovation project protecting your cannabis business’s assets or equipment from potential risks.
Why is it important?
Frontier Risk’s Builder's Risk insurance is crucial for cannabis businesses, offering coverage for damage to buildings, equipment, and inventory during projects. It safeguards against losses from theft, vandalism, or malicious acts during construction. Additionally, in the event of construction-related delays, Builder's Risk insurance helps cover lost income and additional expenses incurred to maintain operations.
What does it cover?
Structural Protection
Covers damage to the building under construction, including materials, fixtures, and equipment.
Risk Mitigation
Protects against losses due to fire, wind, theft, vandalism, and other specified perils.
Customizable Coverage
Can be tailored to include coverage for delays, extra expenses, and soft costs incurred due to covered perils.
Additional Benefits
May extend to cover equipment, tools, scaffolding, temporary structures, and more.
Why Frontier Risk?
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Common Questions
No, Builder's Risk Insurance is not limited to new constructions. It also provides coverage for renovations, remodeling, and other construction projects. Whether it's a ground-up construction or alterations to an existing structure, Builder's Risk Insurance can protect the project from various risks during the construction phase.
Builder's Risk Insurance is essential for various parties involved in construction projects, including:
- Cannabis Property Owners: To protect their investment in the construction or renovation of a building.
- Cannabis-Related Building Contractors: To safeguard their materials, and equipment during the construction phase.
- Anyone with a financial interest in a construction project should consider getting Builder's Risk Insurance to mitigate potential losses and protect their investments.
Generally, Builder’s Risk insurance does not cover losses resulting from design flaws or project changes. Builder's Risk Insurance typically covers physical loss or damage to the insured property caused by specified perils such as fire, theft, vandalism, or natural disasters. You can consult us about the details of your coverage plans.
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