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New Construction - Commercial and Institutional Building Insurance in 2022

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Author Alex Salciccia

What is New Construction Commercial and Institutional Building Insurance?

New construction insurance protects property that is under construction. This type of policy provides coverage for damage to the property, including the building, materials on site, and any equipment used in the construction process. Coverage can also extend to accidents that occur on the property, as well as injuries to workers.

What are the benefits of New Construction Commercial and Institutional Building Insurance?

There are several key benefits of new construction insurance:

  • Coverage for damage to the property
  • Coverage for accidents that occur on the property
  • Coverage for injuries to workers

What is the cost of New Construction Commercial and Institutional Building Insurance?

The cost of new construction insurance will vary depending on the size and scope of the project, as well as the insurance company you choose. However, it is typically less expensive than coverage for an existing building.

Why is New Construction Commercial and Institutional Building Insurance needed?

New construction insurance is needed to protect the property from damage or accidents that may occur during the construction process. This type of policy can help ensure that the project is completed on time and on budget.

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