Demolition Insurance
What Does Demolition Insurance Mean?
Demolition insurance for property owners provides coverage for the costs of tearing down a building that has sustained irreparable damage from an insured peril, such as fire or severe weather. For contractors, demolition insurance offers liability coverage for bodily injury or property damage caused during the demolition process.
Insuranceopedia Explains Demolition Insurance
Property owners should ensure that their property insurance or demolition coverage includes debris removal, which covers the costs of clearing debris and addressing any pollution caused by the demolition. For contractors, demolition insurance protects against various liability risks, such as covering medical expenses for passersby or employees injured during the demolition, as well as the costs of repairing or replacing damaged property.
