Course of Construction Claims Checklist You’ve moved from the asset side of your insurance company’s ledger (paying premiums) to the liability side of their ledger (you get paid by them for your damages).

When preparing a course of construction claim, typically covered under a builder’s risk policy, there are many factors that need to be taken into consideration. To help you navigate the process, we have put together several talking points for you to review. Having a full understanding of each of the below bullet points is crucial to documenting, filing, and successfully settling your insurance claim. If any of these questions give you pause, please feel free to reach out to us for a no-cost discussion about your claim.

• Is the measure of compensation what the full retail cost to rebuild is today? Or what it cost originally?
• Are you entitled to indemnification for escalation costs (labor and material price increases) on the rebid?
• What is your broker/agent’s role?
  • Will they be adjusting the claim?
  • Do they have an accounting degree?
  • How many claims have they handled?
  • Will their role be active or passive?
  • When faced with supporting your position or the insurance company’s, where will they stand?
• Damages to slabs and/or platforms. Repair versus replacement.
• Typically, builder’s risk policies contain 100% coinsurance clauses. 100% of what? Budget? Amount spent?
  • What items can be removed from the coinsurance calculation?
• Might you be entitled to an increase in the GC’s overhead and profit on reconstruction?
• Treating some soft costs as Extra Expenses under the policy. Strategy?
• Arguments can be made for aggressive lease up for the loss of rents claim based on research into the current market conditions in the area.
• The Period of Restoration impacts the soft cost claim (i.e. interest expense, property taxes, security) and loss of rents (lease up period). Is the period of restoration negotiable?
• Most course of construction (builder’s risk) policies have completed value requirements and in the event of noncompliance, penalties are assessed. What strategies can be employed to minimize any such penalties?
• Draw request documentation vs. project worksheets can cause a trap? How?
• What are you entitled to if you decide not to rebuild at the same location?
• Are you entitled to lost profits from the eventual sale? Or reduced profits based on economic conditions?
• When adding on to, or remodeling an existing building, does your COC policy cover the portions of the building that are not new?
• What are the time deadlines for rebuilding contained in your policy? Can you get any extensions?

Adjusters International’s team of public adjusters are experts in maximizing your course of construction (builder’s risk) insurance claim. We will walk you through each step in the claims process and take care of the smallest details that go into filing the claim, from a thorough evaluation of your loss, to carefully researching, detailing and substantiating every aspect of your claim.

Adjusters International works exclusively for you. As such, you are assured that the work we perform on your behalf is never influenced by the insurance company’s interests. We have a long list of satisfied clients who put their trust in our expertise and who can attest to the fact that we stick by our core principles, the first of which is to always look out for our clients’ best interests.

With a staff that includes licensed public adjusters, building estimators, inventory specialists, attorneys and accountants, we have the resources and expertise to help you get everything you are owed under the terms of your insurance policy. We bring local knowledge and a strong commitment to personalized client service to each and every property insurance claim.