Builders Risk Insurance

If you’re a property owner or builder, you could encounter considerable exposure to loss if things unexpectedly go sideways on your project. Builders risk insurance is your best solution, for it can offer you both property and liability coverage for buildings or structures under construction.

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Builders Risk Insurance For Contractors And Owners

A National Fire Protection Association research revealed that buildings under construction or renovation are more prone to experiencing fires than finished ones. What’s even more surprising is fire accounts for a staggering $300 million in property damage annually.

Buildings are subjected to various risks while under construction. For instance, aside from fire, they can be damaged by high winds or fall victim to other catastrophes. That said, it is important to have the right insurance coverage so losses can be minimized significantly when similar events occur.

Builders risk insurance is a crucial risk management tool for contractors or owners looking to build new structures or renovate existing ones. Builders risk insurance also protects against various events that can threaten the success of your project and result in potential property damage or costly delays.

Builders risk insurance also covers the structure (or building itself), materials, supplies, and equipment. If you don’t have a builders risk insurance yet, get in touch with us. Our seasoned, friendly, and competent team understands your complex needs, and we can help you find the suitable policy that will fit your needs best.

Builders Risk Insurance: All The Basics You Need To Know


When a builders risk policy protects your building, it is protected against destruction or damage from covered perils. Builders risk insurance lists some risks such as theft, hail, fire, and vandalism. If your builders risk insurance is an “all-risk” policy, every peril is covered (unless excluded from the property specifically).

If you have difficulty understanding what is excluded and covered in your builder risk insurance policy, our knowledgeable, friendly, and helpful insurance agents can give you a thorough explanation of your coverage. They can also provide clear answers to all your questions regarding your coverage.


Subcontractors, lenders, and project owners can take out builders risk insurance. Essentially, policyholders need to have insurance risk and insurable interest in the property. Insurable risk means the building needs to be under construction. Insurable interest means you own the property or have a financial connection to it.


Builders risk insurance will pay the insured party for damages up to the policy’s limits. It is also possible to have a per-occurrence limit enforced with the builders risk insurance policy.

For instance, if your builders risk policy is worth $1M and you have a $50,000 per occurrence limit, you can be paid a maximum of $50,000 for each claim you make during the policy period.

You will be paid within the policy period until you reach the $1M limit. Once the aggregate policy limit has been reached, no additional claims and coverage will be paid to you.

Policy Terms

Typically, a builders risk insurance policy will be written with three-month, six-month, or one-year terms. If your construction project is not completed at the end of your policy’s term, you have the option to extend coverage for an additional policy period.

Talk to our friendly and helpful agents and inquire about available policy terms. To help you decide better, you can also ask any questions you may have. As a bonus, you can also inquire about the exclusive programs we offer only for contractors.

Additional Coverages and Exclusions

If you plan to purchase builders risk insurance for your building or project, ensure you read and understand your policy carefully. Make sure you also know the meaning of the jargons used.

It is also recommended that you inquire about any exclusions or items not covered by your builders risk insurance policy. One common item that is typically not covered by builders risk insurance is damage caused by earthquakes.

However, you have the option to add said coverage to your policy for an additional fee. Speak with any of our insurance agents to check if there are other additional coverages you need that can be added to your policy.

For Your Builders Risk Insurance Needs, We Are Your Best Choice!

When your reputation and the successful completion of your building or renovation project are on the line, you need to make sure you are covered by comprehensive builders risk insurance. Our builders risk insurance coverage has an extensive list of features and can be tailored to meet your unique needs and preferences.

Over the years, we have become the trusted provider of builders risk insurance and with good reason. We are known to provide top-notch solutions to your insurance needs and that’s just for starters. To meet your specific requirements, we can also create a customized insurance policy just for you.

Our 96.4% client retention rate is solid proof of the exceptional service we provide. Want to get a free builders risk insurance quote? Fill out the form or give us a call, and we will have your insurance quote ready in just minutes!

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