Contractor Insurance

Maine Builders Risk Insurance

If you are a commercial property owner or builder, you can face significant monetary loss if something goes wrong with the construction and you don’t have Maine builders risk insurance. Also known as course of construction insurance, builders risk insurance protects buildings under construction or renovation.

Specifically, builders risk insurance protects against damage or loss to buildings under construction or renovation. Builders risk insurance Maine is not a standard policy, so coverage can differ from one provider to another. Some builders risk insurance can also extend to materials, temporary structures, and data and documents.

When a facility or building is built, several parties have an “insurable interest” in the property; we have the general contractor, subcontractors, and the building owner. If you have a financial stake in the building, it means you have an insurable interest in the property.

Builders risk insurance Maine is designed to protect construction sites from natural disasters, vandalism, and catastrophes. Whether it’s a new residential complex or a building that is under construction, our experienced and competent risk managers can provide the help and guidance you need.

Property owners, custom home builders, and general contractors should also invest in builders risk insurance to ensure their personal or business projects under construction are protected accordingly. At times, Maine builders risk insurance is considered a condition to comply with government regulations.

Builders Risk Insurance Maine

It’s easy to obtain builders risk insurance in Maine. However, choosing the right limit, coverage, and policy type will entail a thorough understanding of the construction industry and its associated risks.

This is where our friendly and expert risk managers come in. Typically in Maine, builders risk insurance coverage is written on an all-risk basis. This can often also apply to properties in transit, on the construction site, and in off-site storage.

What Maine Builders Risk Insurance Covers

Your Maine builders risk insurance can be structured to cover the following:


Builders risk insurance covers buildings and other structures on the premises. This can include fixtures, equipment, machinery, and foundations used to service the building or the facility. It can also cover the building materials and supplies that are a permanent part of the construction project.

Equipment Breakdown

This includes damage to any covered property caused by mechanical breakdown or explosion of boilers that damage covered equipment.

General Liability

This protects against legal liabilities caused by advertising injury to others, property damage, and personal injury.

Ordinance and Law

Ordinance and law will cover the cost of repairing or rebuilding damage caused by municipal laws or ordinances that regulate the repair or construction of damaged buildings caused by an insured loss.

Modular Components

Most businesses keep important and costly materials and equipment in off-site modular units. Maine builders risk insurance covers modular units and components used in transit or as temporary storage.


Contractors and construction businesses usually test newly installed equipment. In case of physical loss caused by pneumatic, mechanical, hydrostatic, and electrical testing, builders risk insurance Maine will cover the cost of the loss.


Aside from labor, materials, and equipment, Maine builders risk insurance will also cover profits. This coverage ensures the contractor gets a pro-rata reimbursement of their profit at the date of the loss.

Identity Restoration

This coverage protects business owners who are victims of identity theft.

The Importance of Builders Risk Insurance

If you use materials that are susceptible to damage or work in an area prone to severe weather, consider getting Maine builders risk insurance is a must. It is also crucial that you are able to pick the coverage that can protect you from any unforeseen risks.

Our knowledgeable, experienced, and friendly commercial insurance brokers can provide help and guidance so you can invest in the builders risk insurance coverage that will suit you and your business best.

Cost of Builders Risk Insurance

Generally, builders risk insurance costs around one to four percent of the total cost of the construction project. However, other important factors like the type of coverage and exclusions of the property can also impact the overall cost.

Fortunately, when you work with us, you are ensured that your claims are expedited and other likely claims are addressed immediately.

We are Your Ultimate Choice for Builders Risk Insurance

If you are looking for the best builders risk insurance in Maine, we are your best option. Our insurance professionals will guide you so you can pick the most suitable builders risk insurance for your business. We will also happily address any questions you may have.

We have been regarded as the #1 and most affordable insurance provider for many years now and with good reason. Our 96.4% client retention rate is a clear testament to the exceptional service we provide.

Apart from world-class coverage, our valued clients can also enjoy our exclusive programs. Fill out the form or give us a call at 888-505-9012 and get your free insurance quote in just minutes!

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