Course of Construction
Remodel / repair
Course of Construction (COC), also known as Builder’s Risk Insurance, is designed to protect owners and contractors from the devastating impact of fires, floods, vandalism, theft, and other unwelcome accidents to a construction project.
Who Benefits From A Course Of Construction Policy?
Subcontractors are included on a COC policy as “unnamed insureds,” receiving the same coverage benefits regardless of whether the policy was taken out by an owner or contractor.
Both named and unnamed insureds on a COC policy are protected from legal suits if they happen to be the party responsible for the loss, as an insurer cannot bring action against someone covered by the same insurance policy.
Owners are assured their contractors will have the funds to rebuild in the event of a loss, and contractors are assured they will have the costs available to start over in such an event.
What does it Cover?
If vandals break into your construction project and cause damage to the property and the supplies that were there, you won’t have to pay out of pocket to replace your materials.
A COC/ Builder’s Risk policy covers the project property, including the materials and supplies necessary to complete the project.