Builders Risk Insurance is a form of insurance which covers a building where it is currently being constructed. It can cover just the structure, or also the materials on site waiting to be installed or transported to the job site. At our agency, we realize that as a building is erected, the risk of loss changes with every phase of construction.

Builder’s Risk insurance policies can often be written in terms of three-months, six-months, or twelve-months. If the project is not completed by the end of the initial policy term, it can often be extended.

Damage from the following events will be covered by most policies:

  • Vandalism
  • Vehicle damage
  • Fire
  • Wind (may be limited in coastal areas)
  • Theft
  • Lightning
  • Hail
  • Explosion

The premiums for all policies are fully earned.  This type of insurance does NOT cover:

  • Sub-contractors are required to have their own insurance.
  • Tools or equipment.
  • General liability.
  • accidents in the job site
  • Property of others.

*Coverage ends when the building is completed, or occupied. In Florida, it is important to get flood coverage as well, since the basic policy does not include it. Having a professional insurance agent can help in getting you the best policy coverages.  We don’t want to see you and your project at risk.

Did you know… This type of insurance excludes coverage for damage resulting from faulty: design, planning, workmanship and materials?