Common use of Builders’ Risk/Installation Floater Insurance Clause in Contracts

Builders’ Risk/Installation Floater Insurance. The Contractor bears all responsibility for loss to all equipment or Work under construction. Unless waived in writing by the City the Contractor will purchase and maintain in force Builders’ Risk/Installation Floater insurance on the entire Work until completed and accepted by the City. This insurance will be Special Causes of Loss policy form, (minimally including perils of fire, flood, lightning, explosion, windstorm and hail, smoke, aircraft and vehicles, riot and civil commotion, theft, vandalism, malicious mischief, and collapse), completed value, replacement cost policy form equal to the contract price and all subsequent modifications. The Contractor’s Builders’ Risk/Installation Floater insurance must be primary and not contributory. 1. Builders’ Risk/Installation Floater insurance must cover the entire Work including reasonable compensation for architects and Contractors’ services and expenses and other “soft costs” made necessary by an insured loss. Builders’ Risk/Installation Floater insurance must provide coverage from the time any covered property comes under the Contractor’s control and or responsibility, and continue without interruption during course of construction, renovation and or installation, including any time during which any project property or equipment is in transit, off site, or while on site for future use or installation. Insured property must include, but not be limited to, scaffolding, false work, and temporary buildings at the site. This insurance must also cover the cost of removing debris, including demolition as may be legally required by operation of any law, ordinance, regulation or code. 2. The Contractor must also purchase and maintain Boiler and Machinery insurance with the same requirements as Builders’ Risk/Installation Floater insurance cited above if the Work to be performed involves any exposures or insurable property normally covered under a Boiler and Machinery insurance policy or made necessary as required by law or testing requirements in the performance of this Contract/Agreement. The Contractor will be responsible for any and all deductibles under these policies and the Contractor waives all rights of recovery and subrogation against the City under the Contractor’s Builders’ Risk/Installation Floater insurance described herein. 3. Builders’ Risk/Installation Floater Insurance must be maintained until whichever of the following first occurs: (i) final payment has been made; or, (ii) until no person or entity, other than the City, has an insurable interest in the property required to be covered. a. The Builders’ Risk/Installation Floater insurance must be endorsed so that the insurance will not be canceled or lapse because of any partial use or occupancy by the City. b. The Builders Risk/Installation Floater insurance must include as named insureds, the City, the Contractor, and all tiers of subcontractors and others with an insurable interest in the Work who will be named as additional insureds unless they are able to provide the same level of coverage with the City and Contractor named as additional insureds. Certificates must contain a provision that the insurance will not be canceled or materially altered without at least 30 days advance notice to the City. The City must also be named as a Loss Payee under the Builders’ Risk/Installation Floater coverage. c. The Builders Risk/Installation Floater insurance must be written using the Special Causes of Loss policy form, replacement cost basis. d. All rights of subrogation under the Builders Risk/Installation Floater insurance are, by this Contract/Agreement, waived against the City, its officers, officials, agents and employees. e. The Contractor is responsible for payment of all deductibles under the Builders’ Risk/Installation Floater insurance policy.

Builders’ Risk/Installation Floater Insurance. The Contractor bears all responsibility for loss to all equipment or Work under construction. Unless waived in writing by the City the Contractor will purchase and maintain in force Builders’ Risk/Installation Floater insurance on the entire Work until completed and accepted by the City. This insurance will be Special Causes of Loss policy form, (minimally including perils of fire, flood, lightning, explosion, windstorm and hail, smoke, aircraft and vehicles, riot and civil commotion, theft, vandalism, malicious mischief, and collapse), completed value, replacement cost policy form equal to the contract Agreement price and all subsequent modifications. The Contractor’s Builders’ Risk/Installation Floater insurance must be primary and not contributory. 1. Builders’ Risk/Installation Floater insurance must cover the entire Work including reasonable compensation for architects and Contractorsengineers’ services and expenses and other “soft costs” made necessary by an insured loss. Builders’ Risk/Installation Floater insurance must provide coverage from the time any covered property comes under the Contractor’s control and or responsibility, and continue without interruption during course of construction, renovation and or installation, including any time during which any project Project property or equipment is in transit, off siteSite, or while on site Site for future use or installation. Insured property must include, but not be limited to, scaffolding, false work, and temporary buildings at the siteSite. This insurance must also cover the cost of removing debris, including demolition as may be legally required by operation of any law, ordinance, regulation or code. 2. The Contractor must also purchase and maintain Boiler and Machinery insurance with the same requirements as Builders’ Risk/Installation Floater insurance cited above if the Work to be performed involves any exposures or insurable property normally covered under a Boiler and Machinery insurance policy or made necessary as required by law or testing requirements in the performance of this Contract/Agreement. The Contractor will be responsible for any and all deductibles under these policies and the Contractor waives all rights of recovery and subrogation against the City under the Contractor’s Contractor- Builders’ Risk/Installation Floater insurance described herein. 3. Builders’ Risk/Installation Floater Insurance must be maintained until whichever of the following first occurs: (i) final payment has been made; or, (ii) until no person or entity, other than the City, has an insurable interest in the property required to be covered. a. . The Builders’ Risk/Installation Floater insurance must be endorsed so that the insurance will not be canceled or lapse because of any partial use or occupancy by the City. b. City.‌ The Builders Risk/Installation Floater insurance must include as named insureds, the City, the Contractor, and all tiers of subcontractors Subcontractors and others with an insurable interest in the Work who will be named as additional insureds unless they are able to provide the same level of coverage with the City and Contractor named as additional insureds. Certificates must contain a provision that the insurance will not be canceled or materially altered without at least 30 days Days advance notice to the City. The City must also be named as a Loss Payee under the Builders’ Risk/Installation Floater coverage. c. . The Builders Risk/Installation Floater insurance must be written using the Special Causes of Loss policy form, replacement cost basis. d. basis.‌ All rights of subrogation under the Builders Risk/Installation Floater insurance are, by this Contract/Agreement, waived against the City, its officers, officials, agents and employees. e. . The Contractor is responsible for payment of all deductibles under the Builders’ Risk/Installation Floater insurance policy. [Note: Cyber Technology Insurance is required whenever the CM@Risk has access to our networks, data, personal identifying information, or technology. If this insurance is not necessary, delete “Cyber Technology Errors and Omissions, Network Security, and Privacy Liability Insurance” section.]

Builders’ Risk/Installation Floater Insurance. The Contractor CONTRACTOR bears all responsibility for loss to all equipment or Work under construction. Unless waived in writing by the City the Contractor CONTRACTOR will purchase and maintain in force Builders’ Risk/Installation Floater insurance on the entire Work until completed and accepted by the City. This insurance will be Special Causes of Loss policy form, (minimally including perils of fire, flood, lightning, explosion, windstorm and hail, smoke, aircraft and vehicles, riot and civil commotion, theft, vandalism, malicious mischief, and collapse), completed value, replacement cost policy form equal to the contract price and all subsequent modifications. The ContractorCONTRACTOR’s Builders’ Risk/Installation Floater insurance must be primary and not contributory. 1. Builders’ Risk/Installation Floater insurance must cover the entire Work including reasonable compensation for architects and Contractorsengineers’ services and expenses and other “soft costs” made necessary by an insured loss. Builders’ Risk/Installation Floater insurance must provide coverage from the time any covered property comes under the ContractorCONTRACTOR’s control and or responsibility, and continue without interruption during course of construction, renovation and or installation, including any time during which any project property or equipment is in transit, off site, or while on site for future use or installation. Insured property must include, but not be limited to, scaffolding, false work, and temporary buildings at the site. This insurance must also cover the cost of removing debris, including demolition as may be legally required by operation of any law, ordinance, regulation or code. 2. The Contractor CONTRACTOR must also purchase and maintain Boiler and Machinery insurance with the same requirements as Builders’ Risk/Installation Floater insurance cited above if the Work to be performed involves any exposures or insurable property normally covered under a Boiler and Machinery insurance policy or made necessary as required by law or testing requirements in the performance of this Contract/Agreement. The Contractor CONTRACTOR will be responsible for any and all deductibles under these policies and the Contractor CONTRACTOR waives all rights of recovery and subrogation against the City under the Contractor’s CONTRACTOR- Builders’ Risk/Installation Floater insurance described herein. 3. Builders’ Risk/Installation Floater Insurance must be maintained until whichever of the following first occurs: (i) final payment has been made; or, (ii) until no person or entity, other than the City, has an insurable interest in the property required to be covered. a. The Builders’ Risk/Installation Floater insurance must be endorsed so that the insurance will not be canceled or lapse because of any partial use or occupancy by the City. b. The Builders Risk/Installation Floater insurance must include as named insureds, the City, the Contractor, and all tiers of subcontractors and others with an insurable interest in the Work who will be named as additional insureds unless they are able to provide the same level of coverage with the City and Contractor named as additional insureds. Certificates must contain a provision that the insurance will not be canceled or materially altered without at least 30 days advance notice to the City. The City must also be named as a Loss Payee under the Builders’ Risk/Installation Floater coverage. c. The Builders Risk/Installation Floater insurance must be written using the Special Causes of Loss policy form, replacement cost basis. d. All rights of subrogation under the Builders Risk/Installation Floater insurance are, by this Contract/Agreement, waived against the City, its officers, officials, agents and employees. e. The Contractor is responsible for payment of all deductibles under the Builders’ Risk/Installation Floater insurance policy.

Builders’ Risk/Installation Floater Insurance. The Contractor bears all responsibility for loss to all equipment or Work under construction. Unless waived in writing by the City the Contractor will purchase and maintain in force Builders’ Risk/Installation Floater insurance on the entire Work until completed and accepted by the City. This insurance will be Special Causes of Loss policy form, (minimally including perils of fire, flood, lightning, explosion, windstorm and hail, smoke, aircraft and vehicles, riot and civil commotion, theft, vandalism, malicious mischief, and collapse), completed value, replacement cost policy form equal to the contract Agreement price and all subsequent modifications. The Contractor’s Builders’ Risk/Installation Floater insurance must be primary and not contributory. 1. Builders’ Risk/Installation Floater insurance must cover the entire Work including reasonable compensation for architects and Contractorsengineers’ services and expenses and other “soft costs” made necessary by an insured loss. Builders’ Risk/Installation Floater insurance must provide coverage from the time any covered property comes under the Contractor’s control and or responsibility, and continue without interruption during course of construction, renovation and or installation, including any time during which any project Project property or equipment is in transit, off siteSite, or while on site Site for future use or installation. Insured property must include, but not be limited to, scaffolding, false work, and temporary buildings at the siteSite. This insurance must also cover the cost of removing debris, including demolition as may be legally required by operation of any law, ordinance, regulation or code. 2. The Contractor must also purchase and maintain Boiler and Machinery insurance with the same requirements as Builders’ Risk/Installation Floater insurance cited above if the Work to be performed involves any exposures or insurable property normally covered under a Boiler and Machinery insurance policy or made necessary as required by law or testing requirements in the performance of this Contract/Agreement. The Contractor will be responsible for any and all deductibles under these policies and the Contractor waives all rights of recovery and subrogation against the City under the Contractor’s Contractor- Builders’ Risk/Installation Floater insurance described herein. 3. Builders’ Risk/Installation Floater Insurance must be maintained until whichever of the following first occurs: (i) final payment has been made; or, (ii) until no person or entity, other than the City, has an insurable interest in the property required to be covered. a. . The Builders’ Risk/Installation Floater insurance must be endorsed so that the insurance will not be canceled or lapse because of any partial use or occupancy by the City. b. . The Builders Risk/Installation Floater insurance must include as named insureds, the City, the Contractor, and all tiers of subcontractors Subcontractors and others with an insurable interest in the Work who will be named as additional insureds unless they are able to provide the same level of coverage with the City and Contractor named as additional insureds. Certificates must contain a provision that the insurance will not be canceled or materially altered without at least 30 days Days advance notice to the City. The City must also be named as a Loss Payee under the Builders’ Risk/Installation Floater coverage. c. . The Builders Risk/Installation Floater insurance must be written using the Special Causes of Loss policy form, replacement cost basis. d. . All rights of subrogation under the Builders Risk/Installation Floater insurance are, by this Contract/Agreement, waived against the City, its officers, officials, agents and employees. e. The Contractor is responsible for payment of all deductibles under the Builders’ Risk/Installation . Floater insurance policy. [Note: Cyber Technology Insurance is required whenever the CM@Risk has access to our networks, data, personal identifying information, or technology. If this insurance is not necessary, delete “Cyber Technology Errors and Omissions, Network Security, and Privacy Liability Insurance” section.]