Premises Liability for Property Under Construction

US Assure’s premises liability insurance product offers protection for owners from exposures that arise out of vacant property ownership during construction, including the cost of events like slip and fall injuries. Residential and commercial owners need this coverage when undergoing new construction or remodeling at an unoccupied property or land where there is no existing property coverage already in place.
 

Premises liability insurance for property owners is a separate, complementary policy to US Assure’s builders risk coverage insured by Zurich, and it does not take the place of the contractor’s commercial general liability policy.

Highlights

• We can quote and issue a policy online in minutes!
• Insured by an “A” rated carrier.
• Policy must be issued in the name of the owner who is undergoing new construction or remodeling; the legal owner of the property must be the named insured.
• Insure one or multiple residential properties per policy when located in the same state; commercial properties are restricted to one location per policy.
• 3, 6 and 12-month policy terms available with limits up to $1M per location.
• Minimum premium starting at $100.
• Premium installment payments available.
• Direct bill, with optional credit card or electronic check payment method.
• A separate builders risk policy can also be secured for the owner.

Eligible clients: Residential and commercial Property Owners undergoing new construction or remodeling projects

Ineligible clients: Contractors or contracting companies that do not legally own the premises

Ineligible risks

• Occupied properties – property must be vacant.
• Residential land in excess of 5 acres; commercial land in excess of 10 acres.
• Properties with more than four units on its premises.
• Coverage is excluded for swimming pools, ponds, lakes, trampolines and swing sets in most states.
• Fuel tanks or property formerly containing underground fuel tanks.
• Pollution exposures of any kind.
• Property with any business or farming conducted on premises.