Common use of Builder’s Risk Clause in Contracts

Builder’s Risk. During the term of this Contract, for new construction the Contractor shall obtain and keep in effect Builder's Risk insurance on an all risk form, including earthquake and flood, for an amount equal to the full amount of the Contract. Any deductible shall not exceed $50,000 for each loss, except the earthquake and flood deductible shall not exceed 2 percent of each loss or $50,000, whichever is more. The policy will include as loss payees the Owner, the Contractor and its Subcontractors as their interests may appear.

Builder’s Risk. During the term of this Contract, for new construction the construction, at Owner’s election and cost, Contractor shall obtain and keep in effect Builder's Risk insurance on an all risk form, including earthquake and flood, for an amount equal to the full amount of the Contract. Any deductible shall not exceed $50,000 for each loss, except the earthquake and flood deductible shall not exceed 2 percent of each loss or $50,000, whichever is more. The policy will shall include as loss payees the Owner, the Contractor and its Subcontractors as their interests may appear.

Builder’s Risk. During the term of this Contract, for new construction the Contractor shall construction, at Owner’s election and cost, Owner may obtain and keep in effect Builder's Risk insurance on an all risk form, including earthquake and flood, for an amount equal to the full amount of the Contract. Any deductible shall not exceed $50,000 for each loss, except the earthquake and flood deductible shall not exceed 2 percent of each loss or $50,000, whichever is more. The policy will shall include as loss payees the Owner, the Contractor and its Subcontractors as their interests may appear.