Why is Contractors' All Risk Insurance necessary?
Unexpected accidents can impact the cost of a project. That's why taking out Contractors' All Risk insurance before you start any commercial project is a prudent step.
BF&M‘s policy protects you by providing coverage in two types of situations:
- When damage occurs to a property
- If a third party is injured or sues for damages
Further, if there is a loan on the property, the financial institution will require proof that you, or your contractor, have a Contractors’ All Risks policy that covers the full contract value.