Coverage Provided by REO Builders Risk

REO Builders Risk provides Special Form coverage including vandalism and theft coverage up to the purchased limits. Coverage is provided on a Replacement Cost basis via a blanket reporting form builder’s risk policy. The policy is tailored to cover the existing structure as well as the lender's additional investment if the lender decides to finish the project. The coverage is subject to a minimum $2,500 per occurrence deductible, however higher deductibles are available upon request. The initial policy term is limited to 6 months. Renewal coverage may be offered at the sole discretion of the insurer and renewal policies are individually underwritten and priced. Premiums are prepaid for 6 month policy terms, however return premiums are pro-rated monthly for early cancellations.