Looking for Builders Risk Insurance?
Builder’s Risk Insurance, which some refer to as Course of Construction Insurance, is a form of commercial property insurance which covers a building where the building or insured area is presently being constructed or heavily remodeled.
It can cover just the structure, or also the materials on site waiting to be installed or transported to the job site.
What does Builders Risk Insurance cover?
The Builders Risk policy covers damage to your project and materials during construction caused by unexpected events like fire, theft, vandalism, or certain weather conditions.
It’s designed to protect the structure, materials, and equipment on-site while work is in progress. Coverage limits are based on your project’s total completed value, and policies are typically offered in 3, 6, or 12-month terms, with extensions available if your project takes longer than expected.
Damage from the following events will be covered by most policies:
You should read your course of builder’s risk insurance policy to be familiar with its limitations and exclusions. Limited coverage is provided for collapse.
Standard Exclusions Include:
An important exclusion which should be read in its entirety excludes coverage for damage resulting from faulty: design, planning, workmanship and materials. Earthquake and flood coverage may be purchased in some areas.
