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Having the Right Policy for the Job

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Make sure you have the right policy for the right job. If you are rehabbing a property, make sure you have a builders risk policy. If you own a multi-unit building, make sure there is a loss of rents policy on top of the dwelling itself. Drop us a line and find out how we can make sure you a protected in the case of a loss. We at Fields are always here for your adjusting needs.

Key Terms:

Builder’s risk insurance
Coverage that protects a person’s or organization’s insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.
Rents or Rental Value Insurance
Time element property insurance that pays for loss of rental income when a building that is rented out to others has been damaged by a covered cause of loss. Coverage is also provided for the fair rental value of the portion of the premises occupied by the insured. Rental value insurance can be provided by a business income coverage form or a specialized rents or rental value coverage form.

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