A few months ago the world watched as Notre Dame Cathedral in Paris France was ablaze. Many were outside praying and spectating as one of the worlds most famous destinations known for its unique architecture and grandeur was burning. It wouldn’t be until later that it was found that the fire was sparked in the section that was under repair. The spire was in deep disrepair and the church was in the process of repairing it.
We may never know if it was a stray cigarette or an electrical surge that caused the fire but since it was started in the construction/renovation area the builder completing the work could be found at fault. If there is no Builders Risk policy in place the insurance company that writes the overlaying property coverage for the building in question could have cause to deny the claim due to the builder working on the property. It is very important for any building/renovation contractor to carry a Builders Risk policy so that the overlaying property is covered from a claim exactly like this one.
If you have more questions concerning Builders Risk Insurance, don’t hesitate to reach out to us here at The Bulow Group!