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Builder's Risk Insurance

What is Builder's Risk Insurance?

What is Builder's Risk Insurance?

Builder's Risk Insurance, also known as course of construction, is a specalized type of property insurance, protecting those with a financial stake in a commercial or residential construction or renovation project. Builder's Risk Coverage protects against Fire, Lightning, Hail, Explosions, Theft, Vandalism, and Acts of God, like Hurricanes, all while serving as the backbone of a successful Risk Management Program.

A baseline policy includes coverage for the building being constructed or renovated, materials, supplies, and, usually, equiptment on site or in transit to the jobsite. With no standard "one size fits all" policy, it is important to work a knowledgable broker and provider that can accommodate and tailor coverages to each projects unique needs. 

Additional Builder's Risk Coverage Extensions:

Policies may not incude the following by default, so consider all hazards a project may face before purchasing coverage.

  • Construction Forms, such as lost or damaged blueprints
  • Debris Removal
  • Employee Theft
  • Engineer or Architect Consulting Fees
  • Pollutant Cleanup
  • Soft Costs, such as loans, taxes, lost rental income or sales
  • Temporary Structures, such as scaffolding

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