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Acadia Insurance provides Construction Property insurance products to customers throughout the Northeast.

The construction industry faces unique exposures and the wrong insurance coverage can result in disastrous consequences. Whether you are a developer or builder doing new construction or renovation work, a contractor with critical equipment for your operation, a subcontractor with multiple projects or a specialty provider of services such as crane operations and rigging, your insurance coverage should be tailored for your needs. Acadia Inland Marine specializes in construction risks and can provide tailored coverage designed to meet your needs.

A Builders’ Risk insurance policy offers protection to a commercial or residential building that is in the process of being constructed in case of damage or loss to the structure while construction is underway. Builder’s Risk policies can be purchased for new construction or remodel projects.

Acadia Insurance Provides Builders’ Risk for:

  • New Construction, Renovation, and Rehabilitation projects
  • Residential, Commercial, Industrial and Public Construction projects
  • In house capacity of up to $50 million in value
  • Additional capacity available

Our Builders’ Risk Policy can include the following coverage features:

  • Transit and temporary storage
  • Flood and Earthquake
  • Equipment Breakdown, cold and hot testing
  • Delay in Completion, delay in start-up, soft costs, consequential loss and additional income

Coverage for Green Builders

Even though many features of green construction are covered in a standard Builders’ Risk policy, you may find that expenses necessary to comply with your green certificate are not covered in the basic policy after a loss. Acadia’s builders’ risk policy includes several coverage enhancements for green builders.

Green Building Coverage:

  • Proper Disposal of damaged property and debris to a recycling facility.
  • Recertification of the structure in accordance with green certification standards.
  • Restoration of air quality to standards set in their air quality plan.
  • Electricity or Water Replacement if your generating or conservation equipment is damaged.

Green Delay in Completion Coverage

  • Obtaining wood from sustainable forests.
  • Materials imported from great distances or materials that are in short supply.
  • Additional advertising and financing expenses after the damage is done.
  • Loss of surplus power income from the inability to feed power due to damage to energy generating equipment.
  • Increase of lost income from the completed project due to delays in the recertification process.

Renewable Energy Installation

  • Solar Panel installation, including hard cost, with transit and off-site storage.
  • Testing and Equipment breakdown.
  • Delay in Completion with soft costs, additional construction expense and loss of income.

For more information, contact an Acadia Insurance Agent for a quote today.

Contractors’ Equipment insurance provides protection for the essential mobile equipment used in the day to day operations of a business, most typically construction. Equipment covered by a Contractors’ Equipment policy can range in size from small farm tractors to large industrial cranes.

Acadia Insurance can provide Contractors’ Equipment Insurance for:

  • Equipment schedules from $1,000 to $40 million
  • Equipment leased and rented from others
  • Equipment leased and rented to others
  • Equipment borrowed from others

Our Contractors’ Equipment Insurance policy can include the following features:

  • Coverage for leased and rented equipment
  • Full Replacement Cost for equipment up to 7 years old
  • Reimbursement for Rental charges so a substitute item can be rented after a covered loss
  • Options available to provide no depreciation for partial losses
  • Coverage for waterborne property
  • Cargo coverage for others’ equipment
  • Business income for critical equipment

For more information, contact an Acadia Insurance Agent for a quote today.

Installation Floater Insurance is protection for contractors’ and subcontractors’ materials and work in progress. As a contractor or subcontractor, you need to be protected if your work is damaged on your job site or project and in many cases there may not be a builders’ risk policy covering your interests. Installation Floaters are designed to protect the value of labor and materials of a contractor’s work in progress in the event that it is damaged by a covered peril. Transit and off-site temporary storage coverage is also available. Installation Floaters can be written for a specific project or on an “open” basis, covering all of your projects.

Acadia Insurance provides Installation Floater Insurance for:

  • Commercial General Contractors
  • Residential and Commercial Subcontractors

Our Installation Floater Policy can include the following coverage features:

  • Transit and temporary storage
  • Flood and Earthquake
  • Equipment Breakdown, cold and hot testing
  • Delay in Completion, delay in start-up, soft costs, consequential loss and additional income

For more information, contact an Acadia Insurance Agent for a quote today.

Applications, Highlight Sheets and more

If you are an operator of specialized equipment, such as cranes or pile drivers, you have specialized insurance needs. Your equipment may have high value and unique characteristics; you may have to operate your equipment in some difficult environments; and your exposure for what is “on the hook” may be significant. You need your equipment to be properly insured and, as a rigger, you need to be sure your liability here is properly covered.

Our Specialized Equipment Insurance policy can include the following features:

  • Coverage for leased and rented equipment
  • Full Replacement Cost for equipment up to 7 years old
  • Reimbursement for rental charges so a substitute item can be rented after a covered loss
  • Options available to provide no depreciation for partial losses
  • Coverage for waterborne property
  • Cargo coverage for others’ equipment
  • Business income for critical equipment
  • Riggers’ Liability
  • No boom or no weight of load exclusion applies

For more information, contact an Acadia Insurance Agent for a quote today.

Applications, Highlight Sheets and more

For more information, contact an Acadia Insurance Agent for a quote today.