Definition: "Sander Insurance" refers to a type of policy that provides coverage for damage or loss on the property of a builder when it fails to perform its obligations under the contract, including obligations such as providing necessary supplies and materials to construct the building, or complying with building codes and requirements. The term "sander insurance" can also be used in the context of protecting against claims from builders who may not meet certain safety standards or adhere to regulations related to construction projects. For example, a builder who fails to comply with safety codes or is found to be performing unsafe work could potentially face liability claims from injured parties. In summary, sander insurance refers to coverage provided by an insurer for damage to the property of a builder that is caused by failure to perform obligations under the contract. It can also be used in the context of protecting against claims from builders who may not meet safety standards or comply with building codes.
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