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Vacant Course of Construction insurance (COC) is a specialized form of coverage designed to protect properties that are under construction and temporarily unoccupied. During the construction phase, properties are particularly vulnerable to various risks, including fire, theft, vandalism, and weather-related damages. COC insurance ensures that your investment is protected during this critical period, covering the costs associated with repairing or rebuilding the property if it is damaged before completion.

Key features of COC insurance include:

• Protection for Unoccupied Properties: COC insurance is specifically tailored for properties that are vacant during construction. Standard property insurance policies often exclude coverage for vacant buildings, making COC essential for ongoing projects.
• Coverage for Common Risks: The policy typically covers risks like fire, windstorm, lightning, theft, and vandalism, which are common concerns during construction.
• Flexibility in Coverage Period: COC insurance can be customized to match the length of your construction project, ensuring you are covered for the entire duration.
• Extensions and Endorsements: Depending on your project’s needs, you may add endorsements to cover additional risks, such as damage from earthquakes or floods.

COC insurance is crucial for developers, builders, and property owners who want to secure their investment and mitigate potential losses during the construction phase.

Builder's Risk Coverage, also known as Course of Construction insurance, provides protection for buildings and structures while they are being built, renovated, or remodeled. This type of insurance is essential for property owners, contractors, and developers to safeguard their construction projects against unexpected events that could lead to significant financial loss.

Key aspects of Builder’s Risk Coverage include:

• Comprehensive Protection: Builder’s Risk insurance covers the physical structure of the building under construction, as well as materials, supplies, and equipment on-site that are intended to become part of the building. This includes coverage against risks such as fire, lightning, hail, explosions, theft, and vandalism.
• Coverage for Project-Specific Needs: Policies can be tailored to meet the specific requirements of a construction project, including coverage for temporary structures like scaffolding, as well as construction materials stored off-site or in transit.
• Policy Duration: Builder’s Risk Coverage typically lasts for the duration of the construction project, ending when the work is completed, the property is occupied, or the project is put to its intended use.
• Optional Extensions: You can enhance Builder’s Risk Coverage with optional endorsements for soft costs (such as legal fees, interest, and architectural costs), business interruption, and more, depending on the unique needs of the project.

Builder’s Risk insurance is a vital component of any construction project, providing the financial protection necessary to ensure that your building reaches completion, regardless of unforeseen challenges.