A part of the Building Lifecycle Enhancement Series®.
One insurance policy for the entire life of your building.
We understand the normal cycles of the life of a building, so we’ve created a product that our customers need
When you start a large multifamily housing or commercial property construction project, there’s a lot to think about. Typically, throughout each stage of your new building’s life, you’ll need a different type of insurance. Needless to say, things can get complicated. So, we’ve developed a product to make things a bit simpler. Building Lifecycle (Builders Risk) allows you to obtain ONE policy for the entire lifecycle of your building.
Business Income with Extra Expense is included on an Actual Loss Sustained basis
Typical “soft costs” are included in the Business Income/Extra Expense provided on Actual Loss
Equipment Breakdown is included
General Liability is included
What is Building Lifecycle (Builders Risk)?
When a building construction project begins, it’s typically necessary to obtain a traditional builders risk policy. Then, when the construction project wraps, you’ll have to remember to cancel that policy and obtain a new businessowners policy. Sounds complicated, right?
With Building Lifecycle (Builders Risk) we eliminate the confusion of different policies for different stages of the construction/completion process by providing one policy for the entirety of a building’s lifecycle.
The Building Lifecycle (Builder’s Risk) Product is a part of the Building Lifecycle Enhancement Series® at Millers Mutual.
Comprehensive Coverage on One Policy with One Bill
There is no need for separate builders risk, inland marine, and businessowners policies. With Building Lifecycle (Builders Risk), we offer greater flexibility to provide coverage for all exposures on a single policy, and Business Income coverage is automatically included on an actual loss sustained basis on a BOP.
The coverage is designed for ground-up, new construction of multifamily housing or apartment buildings. It is also designed for renovation and rehabilitation projects that do not include any load bearing, additional floors or removal of floors.