KLB Construction Inc 11/20/2018 - Laserfiche WebLink

I 1 I 2 Such policy must provide the following minimum limits: 3 $1,000,000 Bodily Injury by Accident —each accident I 4 $1,000,000 Bodily Injury by Disease — each employee 5 $1,000,000 Bodily Injury by Disease — policy limits 6 7 1-07.18(5)H Builder's Risk 8 (January 4, 2016 APWA GSP) 9 10 Contractor shall purchase and maintain Builder's Risk insurance covering interests of the III 11 Contracting Agency, the Contractor, and Subcontractors of every tier, as Named Insureds, in 12 the Work. An Installation Floater instead of Builders Risk is acceptable for renovation projects. 13 Builder's Risk insurance shall be on a special form policy, and shall insure against the perils of 14 fire and extended coverage and physical loss or damage, theft, vandalism, malicious mischief 15 and collapse; and flood and earthquake when shown below. The Builder's Risk insurance shall 16 include coverage for temporary buildings, debris removal, and damage to materials in transit or 17 stored off-site. Such insurance shall cover resulting "soft costs" including but not limited to 18 design costs, licensing fees, architect's and engineer's fees, and costs due to delay in 19 completion. 20 21 Builder's Risk insurance shall be written in the amount of the completed value of the project, 22 with no coinsurance provisions. Such policy must provide coverage and deductibles that 23 comply with the following: 24 25 Coverage: I 26 Total Cost of Project to be Insured: $$1,400,000$$ 27 Soft Costs: $$nia$$ 28 Flood: $$1,400,000$$ 29 Earthquake: $$1,400,000$$ 30 31 Deductibles not to exceed: 32 Flood: 2% of the Value at Time of Loss, subject to a $250,000 Minimum 33 Earthquake: 5% of the Value at Time of Loss, subject to a $250,000 Minimum 34 Earth Movement: 5% of the Value at Time of Loss, subject to a $250,000 Minimum 35 All Other Perils: $50,000 36 Soft Costs: $50,000, with no more than 7-day waiting period 37 38 The Builders Risk insurance covering the work shall have maximum deductibles as listed above 39 for each occurrence. The deductible(s) shall be the responsibility of the Contractor. 40 41 The Contractor shall provide the Contracting Agency with a full and certified copy of the 42 insurance policy when the Contractor delivers the signed Contract for the work. Failure of 43 Contracting Agency to demand such verification of coverage with these insurance requirements 44 or failure of Contracting Agency to identify a deficiency from the insurance documentation 45 provided shall not be construed as a waiver of Contractor's obligation to maintain such 46 insurance. 47 WEST MARINE VIEW DRIVE UTILITIES PAGE 53 OF 117 August 2018 WORK ORDER#3588 SPECIAL PROVISIONS 1