Brandon Blood
New Member
- 9
I don't expect anything from my clients. Most of them don't even know what they need. I advise them to get one and educate why.
Is there Coverage for this? Home Torn down due to [Wrong Address?]
- Thread starter marindependent
- Start date
- Thread starter
- #22
- 2,284
Depending on a builder to have a builders risk policy is like expecting a four year old to brush their teeth without being told. I am sure it exists in fantasyland but i have not seen it. I have seen multiple times builders doing remodels telling my clients that they don't need one.
Brandon Blood
New Member
- 9
That is the problem. They are willing to take the risk and there are no hard state requirements to enforce it. Scares me....
- 4,709
Not sure a builders risk policy covering 1 address would cover tearing down another address. Plus, is a builders risk policy even available to someone hired to actually destroy a house
- 2,280
Time to speak with the County which signed off on the demolition and let the County deal with the contractor
MIGA1626
Super Genius
- 222
Good way to be hassled by investigators.
MIGA1626
Super Genius
- 222
LOL no... People love to take insurance OFF of buildings when/before they tear down... which is good... putting insurance on a building then immediately tearing it down might be viewed as.... you know a little sketch...
This is a general liability risk for the demolition company. Someone made a comment that GL would not cover it because it was intentional, albeit I doubt it was intentional to tear down THAT house, making it an accident. It's not a E&O (professional liability) claim as someone else stated as it's property damage and E&O covers financial losses.
- 1,025
It could either be GL or E&O depending on the circumstances surrounding the claim, including the jurisdiction and policy language.
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