A lot of things can happen to your construction project. Fire, weather damage, theft, accidents. If you’re building a new structure or renovating or repairing an existing one, builders risk insurance provides coverage for you the property owner and your builders while the project is under construction. If you’re getting a loan for your project, your lender is probably going to require builders risk insurance under the terms of the loan.

Builders risk insurance is a form of property insurance that provides all-risk coverage against intentional damages like theft and vandalism and accidental losses, damages and destruction. While it can cover the contractor at the property owner’s request, it does not cover the contractor’s tools or equipment. Nor does it apply to any losses before the stated dated construction began and the stated date it ended. Builders risk insurance coverage is only in effect while construction on your project is in progress.

Your builders risk insurance policy will not cover certain soft costs that aren’t directly related to the actual construction. These can include legal expenses, marketing and leasing expenses, loss of income due to delays in construction, or damages from flood or earthquake. All of these soft costs can be included in your builders risk insurance as optional coverage.

When looking for a builders risk insurance quote, you’re going to need a detailed accounting of several items. These will include (but aren’t necessarily limited to): the total estimated cost of your project, which is the primary factor that will determine the cost of your builders risk insurance premium; a detailed description of your project; the precise location; information about your contractor; any safety and security features in place during construction such as sprinklers, security guards, fences, etc.; a copy of your contract; and a timeline of your project including start, completion and incremental phases, which tell your builders risk insurance provider at what points of your project and for how long they’re assuming the greatest risk.

When comparing competitive builders risk insurance quotes determine if these items are included.

• Building materials, equipment and supplies installed and uninstalled; you want these things covered not just on the job site but also while in storage and in transit.

• Any equipment owned or leased by the contractor such as scaffolding or fencing.

• Coverage for weather- and natural disaster-related damage caused by storms, floods, lightning, earthquakes and sinkholes, as well as sewage and water damage.

• Any costs relative to faulty workmanship, design error, etc.

This time of year traffic accidents are on the rise. Shoppers are making a mad dash home from the mall, people are driving home from holiday parties, and people are travelling to visit family. With all of the additional cars on the road, and often distracted drivers, it’s more important than ever to practice smart, defensive driving.

1- Get Back to Basics. Remember all those safe driving tips your Drivers Ed teacher taught you to obey long ago? Now’s a good time to re-adopt those good habits. Keep your hands at 10 o’clock and 3 o’clock on the wheel- this helps give you the best maneuverability. Keep a good distance behind the car in front of you and maintain a safe space between you and the cars in the lanes next to you.

2- When you’re driving…just drive.  Put out the cigarette, put down the sandwich and hang up your cell phone. Focus on the road and situation around you. You never know when you may catch something out of the corner of your eye that is potentially dangerous. Taking driving time to just drive might also give you a few moments of relaxation everyday you would have otherwise gone without. (Many states have now adopted no-cell phone laws so you might just be avoiding a traffic ticket as well.)

3- Don’t mind your own business. Keep your eyes on the other drivers and vehicles on the road around you. Avoid drivers that are swerving, straddling the center line or just driving aggressively.  If you notice an impaired driver on the road it is best to pull off onto an exit or onto the shoulder and wait for the driver to leave your proximity. Don’t hesitate to call 911 to notify them- you might just be saving a life further on down the road.

4- Follow the Rules. Obey speed limits. Wear your seat belt. And by all means do not drive after consuming alcohol. A little extra precaution this holiday season can help save lives and prevent car accident related injuries!

5- Got a Teenage Driver? Review all of these tips with them and have them sign a Teen Driver/Parent Contract. Download a free copy here.

10 Reasons to Buy CIA Let Property Insurance

CIA Let Property Insurance will easily and quickly compare market rates from the UK’s leading let property insurance providers.

Whether you own one property or have an extensive portfolio CIA Let Property Insurance can offer the most competitive policy with the most comprehensive covers available.

CIA Let property is a dedicated specialist providing landlords and property owners/agents with a full insurance solution and service.

1. One month challenge

If you can find the same insurance cover for a better rate elsewhere in the market within 28 days of purchase, CIA will either match the rate or refund the policy in full.
2. Same rate across all POSTCODES

We apply one price across all postcodes so our competitive and simple pricing structure makes decision making easy. (On selected policies)
3. All risks cover

‘’All risks’’ cover including subsidence, subject to certain exclusions.
4. Loss of Rent

CIA Insurance can provide loss of rent or alternative accommodation expenses as a result of damage – covered by the policy up to 30% of the Building Sum Insured.
5. Accidental damage

Accidental damage to buildings included automatically. (on selected policies)
6. Terrorism cover

Terrorism cover to the Building Sum Insured will be automatically included.
7. Employers liability

The policy automatically includes Employers Liability to £10m
8. Public liability for property owners

Property Owners Liability included to £5m
9. Unoccupied Tenants

A CIA Insurance policy allows unoccupied periods of up to 90 days without notification to us. (On selected policies subject to compliance with applicable endorsement)
10. 15 Years Experience

CIA Insurance has 15 years of experience in the insurance industry and is one of the UK’s leading brokers

A recent survey by the Independent Insurance Agents & Brokers of America foundthat more than 34 percent of respondents, representing 53 million households, admitted they are probably not taking advantage of all the home insurance discounts available to them.

In an economy where people are trying to save money on absolutely everything right now, why would homeowners not be taking advantage of these discounts? The answer is easy. Most survey respondents admitted that they did not know that many of the home insurance discounts even existed.

All too often, homeowners shopping for home insurance will get wrapped up in the process of comparing coverage types , limits and deductibles overlooking the various discounts available from many providers.

Discounts vary by region and provider, so discounts available through one company, may not be offered through another. The best way to find out? Ask.

Most home insurance agents will offer homeowners various insurance discounts during the quoting process as additional savings of up to 20 percent are often a major selling point. However, in order to be a wise consumer, homeowners should go into the quote process already knowing some of the major discounts that are available.

For example, if you can answer yes to any one of these questions, you should be taking advantage of a homeowners insurance discount right now:

• Was your home built in the past 10 years?
• Do you have a security system in your home?
• Are you retired and 55 years of age or older?
• Are you a non-smoker?

The best part about some of these discounts is that even if your home does not qualify right now, there are upgrades and improvements you can make that will help qualify you for home insurance savings in the future. For example, instead of asking for those diamond earrings this Holiday season, why don’t you put a security system on your list? You might be able to save up to $200 on your home insurance premium each year just by having one installed. In the market for a new roof? Ask your provider if they offer discounts for metal or storm resistant roofing and you could save an additional 15-20 percent on your premium.

Bottom line is that the safer your home is against claims, the better rates you should be eligible for from your insurance company.  Don’t be afraid to ask!

More Resources:

Twelve Ways to Lower Your Homeowners Insurance Costs by the Insurance Information Institute

Home Insurance Discounts: Are you saving enough?  by HomeInsurance.com

Many think that a home warranty is an unnecessary expense. After all, you can just take care of the property, monitor it regularly and you will not encounter problems. Besides, most insurance companies do not cover everything. You will most likely incur costs when repairs are needed at home. However, it is surely beneficial to invest in a home warranty. You may be careful with your property but unexpected things can happen that will cause damages in your home.

This is a big help when you are to sell your property. Sellers usually include one year home warranty when selling their houses. This makes the sale faster. This is so because the warranty is an added insurance to the buyers. With this, they can be certain that repairs will be done once the property requires it. Homes may be in good shape when buyers first got them, but accidents can happen and can probably lead to damages.

There are different repairs covered by most home warranties. With this, the homeowners do not have to spend for unexpected costs. Repairs will be done immediately because the insurance company will handle the expenses. They do not have to worry about it. As mentioned earlier, the insurance covers a lot of things. This includes the key systems of the house such as the water heating system, the heating system, plumbing and electrical system. There are also companies that cover certain incidents concerning your property. Examples of these incidents are fire, accidents at home and burglary. You have to keep in mind though that not all companies offer this.

If you are not a seller and you want to find a home insurance, be careful with your search. The first thing that you need to do is to conduct a research. Companies have online services and you will have the information that you need to compare. Do not stop with the comparison of the facts. You have to check the different comments of their customers as well. This is the best measure of their performance, if the clients are satisfied, then the company is probably reliable.

Having a home insurance will surely give you peace of mind. You do not have to worry about damages in key areas of the house. You do not have to worry about your appliances as well. Rest assured that the company would be there when you need them to check your home.

You will be happy to note that applying for the home warranty is easy. Tons of companies are offering their services. Since the market is tough, insurance companies are always in the lookout for a new client. If you are interested, they will be happy to welcome you. You will only be required to fill out some forms and give necessary information. Some will send an inspector to check your home, but other companies have waived this step.

Having a home insurance is definitely a lot of help. You do not have to worry about the damages at home because insurance will take care of it. Just find the right policy for your home to enjoy your property better.