Contractor Insurance

North Carolina Builders Risk Insurance

If you have financial stakes in a construction or renovation project, consider getting a builder’s risk insurance. Also referred to as Course of Construction (COC) insurance, this type of property insurance is designed to look after buildings and construction materials during an ongoing project. It protects parties involved in the construction project, such as contractors, construction firms, and subcontractors from unanticipated losses.

Most property owners will ask contractors if they have North Carolina builders risk insurance. That is because this type of insurance covers a comprehensive list that anticipates risks related to the development project. This is also one of the many conditions required by the government before both parties can get into contractual agreements.

Builders Risk Insurance North Carolina

Whether you are a contractor or a property owner, it is important to know the coverage of your insurance. Equipment, machinery, materials, and supplies are usually protected by any insurance coverage. However, not all construction projects are built the same and there is no such thing as a one-size-fits-all policy.

That is why it is important to work with our competent insurance brokers to help you understand what is covered in your insurance policy. They can also point out what you may have missed that might prove useful in the future. Additionally, it is good to know which coverage is not needed so you can minimize costs and allocate resources to endeavors that are beneficial to the project. The insurance policy is usually written on an all-risk basis and will apply to most properties.

What North Carolina Builders Risk Insurance Covers

Work with our insurance agents so you can structure your builders risk insurance North Carolina to cover the following:


In most cases, builders risk insurance covers properties damaged within the construction site. This also includes equipment, foundations, fixtures, scaffolding, machinery, and other resources that are essential to the buildings.

Equipment Breakdown

This refers to mitigating damage or loss caused by equipment failure. It covers the repair or replacement of equipment that broke down during the course of the construction period. Typically, insurance coverage does not include mechanical breakdown by default. Make sure that this is covered in your builder’s risk insurance policy.

General Liability

Protect yourself from legal liability caused by property damage, advertising injury, or personal injury to others with this type of insurance coverage.

Ordinance and Law

When ordinance and municipal laws are enforced, it can sometimes lead to damage costs incurred by the construction firm. This coverage helps policyholders repair or rebuild strategies to cover costs that came to light due to an incurred loss.

Modular Components

Some construction materials and equipment are kept in off-site modular units. This implies that the materials and equipment are not covered by builders risk insurance. To reduce risk, make sure modular units and components are covered by your insurance policy. This will also apply to construction materials that are either in transit or are kept in off-site modular units.


Testing newly installed equipment or machinery can lead to damage and costs that were not initially anticipated. This can also happen when attempting to overhaul engines. To hopefully reduce the impact of resulting costs and delays, arrange testing coverage with our insurance agents. Make sure to get North Carolina builders risk insurance to manage costs in case of a faulty testing session.

Valuable Papers and Electronic Data

This is a special type of property insurance that covers costs when valuable papers, electronic data, blueprints, schematics, and other important construction documents are lost or damaged. No matter the reason why the valuable papers were lost, this coverage will attempt to reimburse the policyholder for the monetary value of said documents. This applies when the valuable papers and electronic data went missing during the period when the building project was under construction.


Builder’s risk insurance can protect profits during the course of the construction project. The policyholder will get claims for a percentage of the profit they earned since the date of the loss.

Identity Restoration

Getting your identity stolen and attempting to recover it can lead to huge losses. For that reason, this type of insurance coverage is designed to try and help victims of identity theft to restore their personal accounts. Builders risk insurance North Carolina can reimburse the policyholder for the costs incurred during the identity restoration process.

The Importance of Builders Risk Insurance

Choosing the right coverage puts you at an advantage when dealing with risks related to your construction project. Protect your assets, reputation, investments, and everything that is precious to you by choosing us as an insurance partner. We are dedicated to getting the right builders’ risk coverage for you that best fits what your project needs.

Cost of Builders Risk Insurance

The average cost of a builder’s risk insurance usually accounts for 1% to 5% of the total budget for a construction project. This amount does not take into consideration coverage and exclusions that are unique to your insurance policy. Meaning the construction cost of builders risk insurance North Carolina may go lower or higher than the initial estimate. For this reason, be on the safe side and work with our knowledgeable insurance brokers so that they can provide expert guidance regarding your insurance policy.

We are the First in Line When It Comes to Builders Risk Insurance in North Carolina

North Carolina is known for its “First in Flight ” and “First in Freedom” slogans. With that being said, we are the first in line when it comes to offering the best and affordable builders risk insurance in the state. Let our professional insurance agents help you make an informed decision on which insurance coverage would benefit your project the most.

You can certainly get the most out of your North Carolina builders risk insurance. That is because our 96.4% client retention rate is a testament to our excellent service and dedication.

Get a free insurance quote in just a matter of minutes by filling out our form or calling our number 888-505-9012!

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