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Brick and Stone and Related Materials Insurance

Builders and contractors, property owners, real estate developers, and material suppliers may find standalone building material policies beneficial for several reasons, despite having existing property and inland marine coverage.

While these existing policies provide some level of protection, they may have shortcomings or gaps in coverage.

  • For instance, they might not offer sufficient coverage limits for high-value building materials, such as specialty stones, or large quantities of materials required for extensive construction projects.
  • There could be exclusions for specific risks associated with building materials, such as natural disasters like earthquakes or floods.
  • Limitations on transit and storage coverage may exist, and liability coverage might not be tailored to the unique risks of handling and using building materials.

A standalone materials policy is specifically designed to provide coverage for essential building materials such as brick, stone, concrete, and steel.

  • Unlike standard insurance policies, it offers higher coverage limits to ensure comprehensive protection against various risks including breakage, theft, and damage during transportation, storage, and on-site use.
  • This policy includes enhanced liability protection, addressing third-party claims resulting from accidents or negligence involving these materials.
  • Customization options allow for tailored coverage based on the unique needs and risks of each construction project, ensuring flexibility and adequacy of protection.

Importantly, standalone materials policies fill potential coverage gaps or exclusions that may exist in standard insurance policies.
Novatae Risk Group
General Liability for Masonry Contractors
place 12300 Race Track Road
Tampa FL, 33626
Overview: Insurance and risk management services for small- to medium-size Masonry Contractors. Market Focus: Masonry Contractor General Liability program focused on small to medium contractors with less than $1,000,000 annual payroll. Appetite: ...
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