Builder’s Risk Insurance definition
Builder’s Risk Insurance means extended coverage insurance against loss or damage by fire, lightning, wind storm, hail, explosion, riot, vandalism, malicious mischief, riot attending a strike, civil commotion, aircraft, vehicles, smoke and other risks from time to time included under “extended coverage” policies, in an amount equal to 100% of the full replacement value of the Improvements.
Builder’s Risk Insurance shall have the meaning ascribed to it in Section 12.01 of this Agreement.
Builder’s Risk Insurance means the insurance that will be initiated and administered by Judicial Council to provide coverage during Design Build Entity’s performance of Construction Work during the Project. The Builder’s Risk Insurance coverage applicable to the Project is included in the Performance Criteria Documents and is incorporated by reference into these General Conditions. It is a separate policy as part of the Owner-Controlled Insurance Program.
Examples of Builder’s Risk Insurance in a sentence
Builders Risk Insurance shall, at a minimum, cover the perils insured under the ISO special causes of loss form (CP 10 30) and shall be endorsed as needed to provide full coverage for loss or damage from collapse including collapse resulting from design error.
Builder's Risk/Installation Floater The Contractor shall procure and maintain during the life of the Contract, or until acceptance of the project by King County, whichever is longer, “All Risk” Builders Risk Insurance at least as broad as ISO form number CP0020 (Builders Risk Coverage Form) with ISO form number CP0030 (Causes of Loss—Special Form) including coverage for collapse, theft and property in transit.
Additionally, Contractor agrees to endorse the City as an “Additional Insured” under the Commercial Umbrella/Excess Liability and the Inland Marine Builders Risk Insurance as also provided herein.
If Builders Risk Insurance is required on this Project, a full and certified copy of that policy is required when the Contractor delivers the signed Contract for the Work.
Where loan proceeds are disbursed for construction, Builders Risk Insurance or an Installation Floater in the amount of the value of the Property as improved and renovated, with the City and County of Denver named as loss payee.
More Definitions of Builder’s Risk Insurance
Builder’s Risk Insurance. The Owner or Contractor may maintain during the course of construction, Builder's Risk Insurance or other similar types of property insurance for the project. The Builder's Risk Insurance may contain deductible provisions, and when applicable to the Contractor, those deductibles will be borne by the Subcontractor/Material Supplier, or Contractor, whose scope of work is affected by the loss covered under the Builder's Risk or similar coverage.
Builder’s Risk Insurance shall have the meaning ascribed thereto in Section 5.1.5 hereof.
Builder’s Risk Insurance means such part of the insurances effected by the Temporary Confirmation of Insurances which relates to the Rig during the period up to the time of delivery to the Borrower in accordance with the Rig Construction Contract;
Builder’s Risk Insurance. In an amount equal to 100% of the amount of the Contract.
Builder’s Risk Insurance. Subcontractor shall insure (through an Installation Floater form policy), secure and protect their work and materials while in transit to jobsite, or in storage, from damages until final acceptance by Sabal Homes. All deductibles shall be the responsibility of Subcontractor. Subcontractor waives any rights of subrogation as pertains to the proceeds of any Builders' Risk insurance policy carried by Sabal Homes.
Builder’s Risk Insurance. A builder's risk insurance policy on an "all risk" basis including coverage for the perils of earth movement (including but not limited to earthquake, landslide, subsidence and volcanic eruption), flood, boiler, turbine and machinery accidents. Such insurance shall be on a completed value form, with no periodic reporting requirements, with a limit equal to $264,000,000 and providing coverage for (i) the buildings, structures, boilers, machinery, equipment, facilities, fixtures, supplies, fuel, pipelines, transmission lines and other properties constituting a part of the Project, (ii) off-site storage with sub-limits sufficient to insure the full replacement value of any property or equipment not stored on the Site, (iii) removal of debris with a sub-limit not less than $5,000,000, (iv) pollution, clean up and removal for a sub-limit not less than $500,000, (v) foundations and other property below the surface of the ground, (vi) electronic equipment and media, (vii) value losses at replacement cost including custom duties, taxes and fees, (viii) ground and inland waterway transit of key equipment on a "warehouse to warehouse" basis from the manufacturer or supplier to the Site with limits sufficient to insure the value of the largest single shipment but in no case less than $25,000,000, (ix) unintentional errors and omissions, (x) all operational and performance testing for a period not less than 60 days and (xi) existing property for a limit not less than $5,000,000. The earth movement and flood coverage shall not have a sub-limit. The deductible for all such insurance shall not exceed (A) $250,000 per occurrence for operational testing coverage and (B) $100,000 per occurrence for all other coverage. The builder's risk coverage shall not contain an exclusion for freezing, mechanical breakdown, or resultant damage caused by faulty workmanship, design or materials. Coverage shall remain in effect for the Project as a whole until replaced by physical damage insurance insuring the entire Project as specified in Section (B)(2)(a) hereof. The physical damage insurance (specified in Section (B)(2)(a)) may insure part of the Project while the builder's risk insurance is in place only if the same insurer is used for both policies that provide these coverages. The builder's risk coverage shall not be subject to cancellation except for non-payment of premium (after prior notice) and shall include a 50/50 clause. If the insurance company providing the physical damage ...
Builder’s Risk Insurance. Contractors shall provide builders risk insurance to cover the full value of the work being performed on all projects with a contract amount in excess of $250,000, and/ or any project which is being completed in an incomplete (with out a C.O.) shell building.