What is the deductible amount specified in the B and M policy per occurrence?

In a Builder's Risk (B and M) policy, the deductible amount specified per occurrence is commonly set at $500. This standard incremental amount helps balance the risks incurred by the insurer and the insured, making it a common figure in many insurance policies of this type.

The deductible is the portion of the loss that the policyholder agrees to bear before the insurance coverage kicks in, and a $500 deductible makes the policy accessible to a wider range of builders and contractors, allowing them to manage their financial exposure effectively in case of losses during construction. This amount ensures that the policy remains affordable while still providing adequate coverage and claiming processes for the insured parties. Understanding the typical deductible amounts in various policies is essential for both adjusters and policyholders when assessing the risks and costs associated with construction projects.