Builder's Risk Insurance

So you're getting ready to build...

We are here to help you with your Builder's Risk Insurance Policy.

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We're ready to help, so let's get to it!

If you want to save some time on the phone, give us as much information as you can, or just give your contact info and we will reach out to you.


Why do I need a Builder's Risk Insurance Policy?

You need protection should there be damage to the building or materials while it is under construction.  While your building is being built, a standard home insurance policy or a commercial property coverage will have too many exclusions and most insurance companies will not give you a policy until the building is completed.

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What is a Builder's Risk Policy?

Builders Risk Insurance is a type of property insurance that covers damage or loss to a building or structure during the construction or renovation process.

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Top 5 things you need to know about Builders Risk Insurance:

  1. Coverage: Builders Risk Insurance provides coverage for damage or loss to a building or structure during construction or renovation. This coverage generally includes property damage due to fire, wind, theft, vandalism, and other perils. 

    • Ask your agent which of these are covered because NOT ALL POLICIES are the same and if that is not acceptable, call us!

  2. Duration: Builders Risk Insurance policies are typically short-term policies that cover a specific period of time, usually from the start of construction until the project is completed.  Most carriers will provide coverage for 2 years at the same price.  Some carriers WILL REDUCE COVERAGE after year 1 and some will not renew the policy after year 2. 

    • Ask your agent if any of these apply to the policy they are offering and if that is not acceptable, call us!

  3. Insured Parties: The insured parties on a Builders Risk Insurance policy can vary, but typically include the owner, contractor, and any subcontractors involved in the construction or renovation project.  Whether you are the owner or the contractor, you always want to have your name on the policy so that the insurance company is required to put your name on the claim check. 

    • Ask your agent if your name will be on the check if there is a claim and if that is not acceptable, call us!

  4. Exclusions: Builders Risk Insurance policies typically exclude coverage for certain perils, such as collapse, earthquake, and flood . It is important to carefully review your policy to understand what is and isn't covered.

    • Ask your agent what coverages are excluded and if that is not acceptable, call us!

  5. Cost: The cost of Builders Risk Insurance varies depending on a number of factors, including the value of the property being insured, the length of the policy, and the level of coverage needed.

    • It is important to shop around and compare quotes from different insurers to get the best rate.

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