Builders Risk Insurance

Builders risk insurance policies can vary greatly form one insurance broker to another, here are some of the factors you should keep in mind while reviewing an insurance agency that provides builders risk insurance.

What is covered, this will usually include:
* The elements (fire, wind, lightning and hail);
* Theft and vandalism; and
* Vehicles and aircraft

What is excluded, this may include:
* Earthquake;
* Flood and other water damage;
* Weather damage to property in the open;
* War;
* Government action;
* Contract penalty;
* Voluntary parting;
* Mechanical breakdown; and
* Employee theft

Extensions can/may be provided for, these may include:
* Property in transit or temporary storage;
* Garbage/debris removal; and
* Valuable papers (plans, blueprints, etc)
* In certain situations you may be able to purchase earthquake and flood coverage;
* The cost vis-a-vis the coverage

Checking Builders Risk Insurance Companies Reputation

Making sure that the insurance broker you happen to be using is reputable, and should not be short changed.

The most significant thing that reveals any insurer's actual real worth is its insurer's actual real worth is its insurance rating. There are a number of independent organizations, such as A. M. Best, Moody's, Standard & Poor's, as well as Weiss Ratings, that evaluate the companies that are in the market and give them ratings according to their financial health, stability as well as their capacity to meet present and future financial obligations.

The majority of states have data accessible via their department of insurance that'll let you know about the number and types of complaints or grievances that these companies get against them. It is an excellent indication of what their customer service and satisfaction rates with customers.

Doing an internet search for any company you are thinking about buying insurance from is likewise is advisable. This gives you the information regarding their customer service, lawsuits associated with them, the way they rank inthe event they have been included in any surveys and much more.

Major Builders Risk Insurance Company Reviews

Following is a listing of major builders risk insurance brokers providing service in the US market place (these can change as time passes by, so be careful). The rating is based on A. M. Best is presented below, showing each ones particular financial strength. Any A rating (A-, A, A+ or A++) are all extremely good ratings, and you can expect these brokers to stay in business for the long haul, and be able to pay out any claims which might be made with them.

Company (Rating)
Zurich American Insurance Co.(A)
Capitol Insurance Group (A)
Capitol County Mutual Fire Insurance Co (A-)
Assurant Insurance Group (A)
American Reliable Insurance Co. (A)
Progressive Insurance Group (A+)
Philadelphia Insurance Companies (A+)
Safeco Insurance Company of America (A)
Colorado Casualty Insurance Co. (A)
Peerless Insurance Co.(A)
Merchants Bonding Company (Mutual) (A)
Western World Insurance Group (A+)
Chubb Custom Insurance (A++)
Seneca Insurance Company Inc (A)
Hartford Accident and Indemnity Company (A)
Chartis Casualty Company (A)
Unitrin Auto and Home Insurance Co.(A-)