Builder's Risk Insurance: Specialized Coverage for Construction Projects

ADJUSTERSINTERNATIONAL.COM

ADJUSTING TODAY

Reporting Form

The reporting form is frequently used by contractors who have numerous jobs going on simultaneously and can be used to insure all of them under a single program of coverage. The policy can be tailored to include automatic coverage for new locations, usually requiring that they be declared within a stated number of days from the start of construction.

As noted, determining whether a reporting form will be used is a decision usually left to the underwriter’s discretion. The underwriter will most likely select a limit high enough to cover the expected completed value, with the actual value of the property at risk reported to the insurer regularly.

Care must be used with this form to:

“The reporting form is frequently used by contractors who have numerous jobs going on simultaneously and can be used to insure all of them under a single program of coverage.”


RkJQdWJsaXNoZXIy NjIxNjMz