Builder's Risk Insurance

Builder's Risk Insurance is a specialized type of property insurance that provides protection for buildings and structures that are under construction.

This type of policy protects the project owner, contractors and subcontractors against direct physical loss or damage to the covered property. Typically, this coverage extends to materials and supplies that are onsite, in transit, or being stored temporarily off-site - if they are intended to become a permanent part of the property.

It is important to note that Builder's Risk is a form of temporary insurance - it only applies during the course of construction/assembly/fabrication. Once construction is considered complete  this policy will no longer be in-force and the owner of the building/structure will need to secure traditional property insurance.

Builder's Risk insurance covers a wide range of causes of property damage and typically  includes:

  • Fire
  • Wind
  • Hail
  • Theft
  • Lightening
  • Explosion
  • Impact by vehicle or aircraft
  • Vandalism

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