Common use of Builder's Risk Installation Floater Clause in Contracts

Builder's Risk Installation Floater. Unless otherwise provided or instructed by the Principal Representative, the Contractor shall purchase and maintain, in a company or companies lawfully authorized to do business in the jurisdiction in which the project is located, Builder’s Risk Insurance in the amount of the initial contract amount as well as subsequent modifications for the entire project at the site on a replacement cost basis without optional deductibles. This coverage is required for new buildings or additions to existing buildings and for materials and equipment to be installed in existing structures. • Covered Cause of Loss: Special Form • Include Theft and Vandalism • Labor costs to repair damaged work • Shall be written for 100% of the completed value (replacement cost basis) • Deductible maximum is $50,000.00 • Waiver of Subrogation is to apply • The Regents of the University of Colorado, a body corporate, shall be added as Additional Named Insured on Builders Risk.

Builder's Risk Installation Floater. Unless otherwise provided or instructed by the Principal Representative, the Contractor shall purchase and maintain, in a company or companies lawfully authorized to do business in the jurisdiction in which the project is located, Builder’s Risk Insurance in the amount of the initial contract amount as well as subsequent modifications for the entire project at the site on a replacement cost basis without optional deductibles. This coverage is required for new buildings or additions to existing buildings and for materials and equipment to be installed in existing structures. • Covered •Covered Cause of Loss: Special Form • Include •Include Theft and Vandalism • Labor •Labor costs to repair damaged work • Shall •Shall be written for 100% of the completed value (replacement cost basis) • Deductible •Deductible maximum is $50,000.00 • Waiver •Waiver of Subrogation is to apply • The •The Regents of the University of Colorado, a body corporate, shall be added as Additional Named Insured on Builders Risk.