Builders Risk Insurance

Builders Risk Insurance, also known as Course of Construction Insurance is a type of property insurance designed to provide temporary coverage against damage or loss during the course of  construction. Builders risk insurance can cover the structure only, or can be expanded to include building materials on the job site or in transit to the site.

Builders risk insurance can be purchased for new construction and remodeling projects. Construction risk insurance protects against damage done to the insured structure from a variety of events. Most builders risk policies cover property damage from fire, wind, theft, lightning, hail, explosion and vandalism.

These kind of policies are usually written in three, six or twelve month terms. If the construction project is not completed by the end of the initial policy term, a policy may be extended, but most carriers only allow a singe extension.

Builders Risk Insurance is not usually an option on construction projects, especially for new construction. Most local, county and state building and code enforecment agencies require a certificate of insurance before construction begins.

Because course of construction policies are high risk for insurers, there are less carriers that underwrite builders risk policies than other property insurance policies. In spite of the risk, there is still an abundace of markets offering builders risk insurance. Selecting a builders risk insurance policy can be a long and confusing process, so be sure to choose a construction insurace broker experienced writing builders risk. When selecting a policy, carefully review and understand what the policy covers, the policy limits as well as its limitations and exclusions.

We are contractor insurance specialists, so we really understand Builders Risk Insurance. We work with a variety of carriers that underwrite builders risk insurance and will find the right coverage for your construction project. Call us at (866) 961-4570 or complete the form on this page for your free, no obligation builders risk insurance quote.

In addition to Builders Risk Insurance, we also offer Contractors General Liability InsuranceContractor License BondsConstruction Bid and Performance BondsTools and Equipment Coverage, Commercial Auto Insurance and Workers’ Compensation Insurance.

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