Builders Risk definition
Builders Risk. The Contractor shall purchase and maintain All Risk Builder's Risk insurance upon the entire Project to One Hundred Percent (100%) of the insurable value thereof for the benefit of the Owner and the Contractor. Such insurance shall include any and all direct damage to all structures under construction (including temporary structures) and all materials, supplies, machinery, and equipment at the work site which are or will be incorporated in the work, which is caused by hazards such as but not limited to, the hazards of fire, lightning, wind, earthquake, flood, vandalism, malicious mischief, and other hazards included in a standard Extended Coverage Endorsement. Check box if required only.
Builders Risk. An 'all risk' Builders Risk insurance policy, including earthquake and flood, shall be maintained during the course of Construction. Policy shall include coverage for materials anc equipment to be used while at the Site, offsite or while in transit to the Site. Coverage shall be written to cover the full replacement cost of the property. Limits and deductibles shall be approved by PG&E ES. PG&E ES shall be named as Loss Payee.
Builders Risk insurance against damage or destruction by fire and full extended coverage, including vandalism and malicious mischief, covering all improvements to be erected hereunder and all materials for the same which are on or about the Premises, in an amount equal to the full insurable value of such improvements and materials; such insurance, to be payable to Owner, Contractor and Lender, if any, as their interests may appear, with, standard mortgage endorsement to Lender or its assigns as mortgagee.
Examples of Builders Risk in a sentence
Partial occupancy or use of the Work upon substantial completion shall not commence until the insurance company or companies providing Builders Risk insurance have consented to such partial occupancy or use.
Builders Risk insurance shall name as insureds County, Contractor, and all subcontractors and sub-subcontractors.
If property is damaged by the failure of Contractor to maintain Builders Risk or Equipment Breakdown, then Contractor shall bear all reasonable costs properly attributable to that failure.
With any construction project, Hall County should consider purchasing Builders Risk Coverage on a direct basis or have the contractor provide the coverage for projects under $5,000,000 in value.
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.
More Definitions of Builders Risk
Builders Risk insurance against damage or destruction by fire and full extended coverage, including vandalism and malicious mischief, covering all improvements to be erected hereunder and all materials for the same which are on or about the Property, in an amount equal to the full insurable value of such improvements and materials; such insurance to be payable to Owner, Developer and Owner's lender as their interests may appear, with a standard mortgagee endorsement to Owner's lender or its assigns as mortgagee. Developer shall furnish to Owner and Owner's lender if required by such lender, duplicate policies of insurance as set forth in subparagraphs (i), (ii), and (iii) hereof. Each of such policies shall, if the insurance carriers so permit, contain a provision to the effect that they may not be canceled except upon ten (10) days prior written notice to Owner and Owner's lender.
Builders Risk. To cover structures being built, temporary structures at the building site, and building materials not yet having become part of the building. The building materials are covered while on the insured location, in transit, or in storage at another location.
Builders Risk. The Contractor shall purchase and maintain All Risk Builder's Risk insurance upon the entire Project to One Hundred Percent (100%) of the insurable value thereof for the benefit of the Owner and the
Builders Risk insurance against damage or destruction by fire and full extended coverage, including vandalism and malicious mischief, covering all improvements to be erected hereunder and all materials for the same which are on or about the Property, in an amount equal to the full insurable value of such improvements and materials; such insurance to be payable to the Owner, the Developer and the Owner's lender as their interests may appear, with a standard mortgagee endorsement to the Owner's lender or its assigns as mortgagee. The Developer shall furnish to the Owner and the Owner's lender if required by such lender, duplicate policies of insurance as set forth in subparagraphs (i), (ii), and (iii) hereof. Each of such policies shall, if the insurance carriers so permit, contain a provision to the effect that they may not be canceled except upon ten (10) days prior written notice to the Owner and the Owner's lender.
Builders Risk. The City has Builder’s Risk coverage that is shared between members of the W.A.R.M. property pool. Depending upon the size of the project, the City shall have the right to require the Contractor to obtain Builder’s Risk Coverage (this would be listed as a separate pay item on the Proposal). The Contractor is responsible for obtaining insurance coverage for its own property at the job site.
Builders Risk policy, “Cargo” policy and “OCIP” policies (as those terms are defined in Schedule 6.3) attached to the Borrower Guarantee Issuance Date Certificate are appropriate forms for purposes of Section I.a.1, I.a.2, and I.a.4 of Schedule 6.3. (Signature page follows)
Builders Risk insurance, during any material construction, repair, replacement, renovation or alteration of the Improvements, in such amounts as are reasonably approved by Beneficiary.