Hanover Builder's Risk is designed to be completely customizable to meet a wide range of customer needs and budgets to enable your agency to be more customer-focused and differentiated, whether residential, commercial, new, remodel, or rehab. Our comprehensive solutions are backed by experienced construction underwriters, expert loss control services, and a superior claims team.
- Residential Buildings
- Commercial Buildings (single projects or reporting policies) such as:
- Industrial Structures
- Municipal Buildings
- Sewer Treatment and Water Distribution Plants
- High-Rise Offices
- Institutional Property (schools, colleges, etc.)
- Roads and Bridges
Online Issuance System
To complement our Marine Underwriter’s personal services, The Hanover’s Builder's Risk web-based automated processing system allows you to issue Builder's Risk policies in real time and in one easy transaction.
Our Builder's Risk Policy lets you easily add extended coverage to expertly tailor your client's policy to meet their needs, including sub-limits, without burying you in forms and paperwork. Most have already been combined into a single form.
Beyond the core policy, we’ve included expanded coverage aimed at offering your clients the right protection.
What makes our form better than the competition?
- Insufficiency of Limit Clause – provides up to 10% of the Limit of Insurance (up to $1M) following a Total Loss to Covered Property
- Replacement Cost with No Co-insurance
- Broad Named Insured – includes the interest of all Contractors, Sub- Contractors and Owner’s
- Delay in Completion Coverages – including Soft Costs, Business Income, Loss of Rents and Extra Expense
- Equipment Breakdown
- Flood, Earthquake, and Earth Movement Coverages Available
- Sewer & Drain Backup
- Contract Penalty
- Expediting Expenses
- Ordinance or Law Coverages
- Business Personal Property while located at the jobsite
- Construction Trailers & Contents while located at the jobsite
- Valuable Papers and Records (such as blueprints) while located at the jobsite
- Pollution Cleanup and Removal
- Debris Removal
- Police & Fire Department Service Charges
- Emergency Removal to Protect Property
- Fire Suppression Recharging Expense
Soft Costs Calculator
Try our new online Soft Costs calculator to work through risks with prospect and customers.The Hanover’s proprietary Builder's Risk coverage form offers unique, superior protection, along with a flexible form that helps make writing this complex coverage easy—whether for a single shot, blanket policy, new construction or other risks. Our new online Soft Costs calculator helps guide your coverage conversations with prospects and customers.