Common use of Property Coverages Clause in Contracts

Property Coverages. (If Applicable) Contractor shall provide builders risk insurance on an “All Risk” basis on a policy form satisfactory to City. The limit of coverage will be the amount necessary to cover the bid value of any structures in the Contract or other value determined by City. City reserves the right to require Contractor to provide boiler and machinery insurance coverage or other forms of property insurance. If the project is in a flood plain, City reserves the right to require flood coverage at Contractor’s expense. Losses paid under the property insurance policy or policies shall be paid directly to City by the insurer(s).

Property Coverages. (If Applicable) Contractor shall provide builders risk insurance on an “All Risk” basis on a policy form satisfactory to City. The limit of coverage will be the amount necessary to cover the bid quote value of any structures in the Contract or other value determined by City. City reserves the right to require Contractor to provide boiler and machinery insurance coverage or other forms of property insurance. If the project is in a flood plain, City reserves the right to require flood coverage at Contractor’s expense. Losses paid under the property insurance policy or policies shall be paid directly to City by the insurer(s).

Property Coverages. (If Applicable) Contractor shall provide builders risk insurance on an “All Risk” basis on a policy form satisfactory to CityDistrict. The limit of coverage will be the amount necessary to cover the bid quote value of any structures in the Contract or other value determined by CityDistrict. City District reserves the right to require Contractor to provide boiler and machinery insurance coverage or other forms of property insurance. If the project is in a flood plain, City District reserves the right to require flood coverage at Contractor’s expense. Losses paid under the property insurance policy or policies shall be paid directly to City District by the insurer(s).