County Buys Builder’s Risk Insurance for New Jail
SAN ANGELO, TX — Tom Green County Commissioners purchased Builder’s Risk Insurance this morning for construction of the new Tom Green County Jail.
Builder’s risk insurance covers any direct physical loss during construction. The Court approved a 24-month policy that would insure the construction process starting June 1, 2017 and ending June 1, 2019, at a cost of $54,325.00. The maximum cost for the new jail's construction is $51 million.
The County received several bids and awarded the contract to Chubb Insurance. According to the company website, “Chubb is the world’s largest publicly-traded property and casualty insurer.”
The new jail will be built at 4382 North US 277 northeast of San Angelo between the County 4H building and the Roy K. Robb men’s detention facility. Construction is expected to begin in June and is projected to finish within two years.