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Builders Risk Insurance – Build With Confidence

What Is Builders Risk Insurance?

Builders Risk Insurance, also known as course of construction insurance, meets the needs of the construction industry in the remodeling, renovation, or new construction of “ground up” type residential and light commercial projects.

Our Builders Risk Policy offers coverage for loss or damage to materials, fixtures, and equipment used during the course of construction up to three stories and can insure up to $10 million per job site. 

Contractors and homeowners assume the current homeowners policy or other property policy will cover any damage done during a build or renovation. However, the reality is that if any damage is caused during renovation, it may not be covered. That’s why Builders Risk Insurance is so important. It can fill the gap and provide coverage if the unexpected happens.

Who Needs Builders Risk Insurance?

Pretty much anyone who builds or renovates needs builders risk insurance. That could be general contractors, property owners, or homeowners. 

Even if you are building a home and have a Construction Loan, the lender probably requires Builders Risk or Course of construction insurance.

This policy covers incidents that happen during building or renovation projects that your regular business or homeowners insurance won’t cover. Buildings under construction or renovation are open to risky situations, including fires, vandalism, theft, and unexpected natural disasters.

If you’re a business owner or homeowner, you should confirm your general contractor carries Builders Risk Insurance for your project. The materials and tools needed for your projects are most likely included in the contractor’s quote. You are paying for the construction material required to work on the renovation. If anything were to happen to those materials (which can be costly), it’s important they are covered under your or your contractor’s Builders Risk Policy.

Flexible Options

Renovation and construction projects usually have a timeline. But sometimes, life happens, which means these timelines can vary. While some companies only offer 6, 8, or 12-month options, we offer flexible options for:

· 3, 6, & 12-month extension options (not to exceed 24 months)

· Rates up to 20% below competitors

Our flexible terms can lead to significant savings because you may even get some money back if the project finishes early.  

Make sure you’re covered when it matters

Builders Risk coverage doesn’t have to be complicated. Contact us today for a free Builders Risk Insurance quote. We’re happy to answer any questions you have and make sure you’re getting the coverage that’s right for you.

IBAW 5-Star construction award winner