What Does Demolition Insurance Mean?
Demolition insurance for property owners refers to an insurance policy that offers coverage for the expenses of tearing down a building due to irreparable damage from an insured peril, such as fire or weather damage. For contractors, demolition insurance refers to liability coverage for bodily injury or property damage resulting from a demolition.
Insuranceopedia Explains Demolition Insurance
Property owners may want to ensure their property insurance or demolition coverage includes debris removal, which pays for removing the resulting debris and pollution. As for contractors, demolition insurance protects them against various liability exposures, such as the medical costs of passers-by or employees injured during demolition and repair or replacement of damaged property.