Building Foundations Insurance

The Basics of Building Foundations Insurance


Building foundations are often overlooked when planning a new structure or remodeling an existing structure. But these structures are just as critical as other parts of the building. They need proper protection against damage caused by earthquakes, floods, hurricanes, tornadoes, and other natural disasters.

Insurance Foundation Coverage Options


There are several types of foundation coverage options available. These include property insurance, builder’s risk insurance, and contractor’s risk insurance. Property insurance covers the cost of repairing or replacing damaged buildings and contents. Builder’s risk insurance protects the owner of a newly constructed building from financial loss due to faulty workmanship or materials. Contractor’s risk insurance provides protection for contractors who perform work on a business owner’s property.

Most insurance policies for foundations will cover any damage that is caused by the foundation itself. This means that if your foundation cracks and causes your building to collapse, your insurance should cover the repairs. However, it is important to check with your insurer to make sure that foundation damage is included in your policy.

Types of Foundation Insurances


Property insurance typically covers damage caused by natural disasters such as earthquakes, hurricanes, tornadoes, floods, and wildfires. It also includes coverage for damage caused by manmade events such as fires, explosions, and vandalism. Builder’s Risk insurance is designed to protect business owners against losses resulting from defective workmanship or faulty materials used during the construction process. This type of insurance is often required by lenders when financing new business construction projects. Contractor’ s Risk insurance is intended to protect contractors from financial loss due to claims made against them by third parties.

How Much Does it Cost?


There are two main types of property insurance policies: business owner’s policy and commercial general liability (CGL) policy. business owner’s policies cover damage to a building or other structures located in an area. CGL policies provide protection for businesses and organizations that own real estate, buildings, and equipment. Both types of policies offer varying levels of coverage based on the value of the property being insured.

Types of Structural Damage


A business owner’s policy typically covers damage to the structure of a buildings, such as walls, roofs, floors, windows, doors, and siding. It also covers personal belongings inside the business, such as furniture, appliances, clothing, and electronics. If a fire damages a business, the insurer will pay for the cost of repairing or replacing damaged items.
A CGL policy provides similar coverage for business owners. However, it does not cover losses caused by natural disasters, such as floods, hurricanes, tornadoes, earthquakes, and wildfires. In addition, it does not cover loss of use of a building due to these events.

Common Causes of Foundation Damage


  • There are several common reasons why a foundation might need repair. These include settling, cracking, shifting, and collapse.
  • Settling occurs when soil shifts beneath a building because of changes in groundwater levels. This can cause cracks in the foundation. Cracking happens when concrete expands and contracts with temperature changes.
  • Shifting occurs when the ground underneath a building move. This can happen when there is a landslide, earthquake, or other type of earth movement. Shifting can cause cracks in the wall or floor of a building.
  • Collapse occurs when a building sinks into the ground. This can occur when the soil supporting the building becomes unstable. Collapse can also result from heavy rainstorms or flooding.

Foundation issues can be expensive to repair, but our insurance foundation repair coverage can help alleviate some of the financial burdens. We cover a variety of foundation repairs, so you can rest assured knowing that your business is in good hands.


We at PBIBINS specialize in insurance foundation coverage as our CEO was a former contractor himself. This means that we understand what your contractor insurance needs as a contractor are. Feel free to call and speak to our specialists in insurance about insurance for foundation repair and get a free, no-obligation quote for your consideration.

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