Builders Risk Policy

What the heck is a Builders Risk policy?

You are building a home from start to finish. Or, you have an investment property you are “flipping” with new cabinets, bathrooms, flooring and vinyl siding. Your credit score is excellent, and you have the loan lined up! But your closing is held up due to a requirement from the lender for Builders Risk Insurance. You see the term builder, and you contact your contractor to see if this is something they can handle for you. But is that a good idea?

A project as important as your new dream home, or an investment property that can help lead you to financial independence should not be left up to a general contractor to decide the appropriate coverage. Too much faith is put into that profession as it is. You need to control and quote the builders risk insurance yourself, with a qualified and experienced independent insurance agent. But what exactly is builders risk insurance?

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NOW is the perfect time to talk with us about life Insurance

Times of economic change can bring instability to stock markets and real estate as people with money chase different priorities based on the consequential outcomes of elections. There is no better time to talk with us about life insurance. Puharic and Associates focuses on property and casualty insurance, group health benefits, and we also have direct partners and referral partners to help you understand the importance of life insurance in protection of your assets and income.

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Risk Management Resources

Inflation, Storms, Social Inflation Drive Insurance Costs

Everywhere you go, neighbors and friends are talking about it: “Have you seen the increases in our insurance costs?” Yes, it's true that costs are increasing throughout the economy, but what are the factors driving this increase? Politicians will cite corporate greed and other such gobbly-gook, but it is in fact the government who allows and sets the percentage of increase for all regulated insurance products. So if they allow for the increase, they clearly see factors beyond pay raises and corporate bonuses.

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Save The Date!

NJ Site Remediation Conference

March 26 and 27, 2025Hyatt Regency, New Brunswick

The LSRPA's NJ Site Remediation Conference is the cornerstone event for professionals in the environmental field, offering unparalleled opportunities to gather critical information and connect with industry peers. Over the years, it has solidified its reputation as a key resource for staying informed on the latest developments in site remediation. Puharic & Associates will be the Reception sponsor in 2025.