Contractor Insurance

Virginia Builders Risk Insurance

If you are a contractor or an owner of a new construction project, consider getting Virginia builders risk insurance or construction insurance. It is designed to protect your building from damage or losses while it is still under construction.

This type of insurance is not a standard policy and may vary from each other depending on the coverage. Some policies include materials or documents, but you must also consider the provider and the type you are getting.

In every construction project, several parties involved have an insurable interest in the property. This arrangement means the individuals have a financial stake in the project. To mitigate potential loss, they agree on getting builders’ risk insurance.

Construction insurance is a great way to protect you against incoming losses from natural disasters, accidents, and other unexpected events that could happen during the construction period. Work with our approachable and skilled risk managers to get your hands on a policy that covers all you need. They can anticipate and evaluate other risks related to the project, so you can arrive at the best coverage you deserve.

Building owners, general contractors, subcontractors, and other parties involved in the ongoing construction project will do well if they get builders’ risk insurance to protect their interests. Normally, it will cover everything you need because it is written on an all-risk basis. Most importantly, individual partners need it to comply with contractual obligations and government regulations.

Builders Risk Insurance Virginia

While you can get construction insurance from plenty of different brokers, not all policies are alike. You’ll need to ensure the coverage and policy type works well for your needs. You need an insurance partner who has comprehensive knowledge of the construction industry and relevant risks. Our expert insurance brokers who will guide you to an insurance policy that works best for your specific business requirements.

The coverage is generally written on an all-risk basis, protecting all properties and materials in the construction site, in transit, and even those stored in off-site locations.

What Virginia Builders Risk Insurance Covers

Take time to make your builders risk insurance in Virginia cover the following essentials and additional inclusions:


Construction insurance will typically include new buildings and structures inside the project premises. It also covers equipment, machinery, fixtures, foundations, and other tools that work on the structure. Supplies and materials are considered permanent parts of the building, so they are also included in the coverage.

Equipment Breakdown

Every event that leads to costs or losses is generally covered as long as it happens within the insured site. Therefore, an insurance policy should also cover property damage caused by equipment-related factors. Instances of damage that the policy should cover are mechanical breakdown of equipment, explosion of steam boilers, artificially-generated current overload, and other similar circumstances.

General Liability

This type of coverage will help you mitigate losses due to legal liabilities from third parties. These individuals might sue you for advertising or personal injury, so you must be prepared for any relevant and incoming costs. Property damage brought about by third parties may also not be covered in your initial policy. So, you need general liability to handle this issue.

Ordinance and Law

Homeowners will need this type of coverage in case of unexpected costs incurred due to renovations and repairs required by the government. These modifications may result from obligatory implementation of new building-related municipal laws or ordinances.

Modular Components

Some materials and modular units are stored in off-site locations, which means they are not covered by your basic construction insurance. So, include them in your policy to keep them insured while they are in temporary storage or in transit.


In most construction insurance, damage from testing is usually excluded for obvious reasons. Make sure your builder’s risk policy covers damage caused by electrical, hydrostatic, pneumatic, or mechanical testing.

Valuable Papers and Electronic Data

Businesses work with and rely on blueprints, schematics, electronic data, and paper documents. It will be very frustrating if these valuable papers become lost or stolen. This situation is when a builders risk insurance Virginia comes in handy, for it will provide compensation to restore, replace, and research these valuable documents.


During the construction period, you might find yourself deep in financial losses and unable to gain profits. Builder’s risk coverage provides coverage as it will give you pro-rata reimbursement of profits you have earned as of the date of the loss.

Identity Restoration

Entities involved in construction projects are not safe from identity theft, so make sure to cover identity restoration in your policy to better defend yourself from such fraudulent acts.

Understanding the Importance of Builders Risk Insurance

While construction for a building is in progress, the structure and materials are prone to damage or potentially poor installation. This issue can become problematic later on, so invest in Virginia builders risk insurance. Try to get the best coverage for your policy so you can protect your investments from unexpected costs and risks. Let our experienced insurance brokers guide you to a construction insurance policy built specifically for your needs.

Cost of Builders Risk Insurance

Standard construction risk policy goes to about one to four percent of your total building project cost. Know that exclusions, limits, types, and factors can increase or decrease the overall cost. Work with our risk management experts to guide you through the process, expedite claims, and cover other claims you may have missed.

We are the Superior Choice for Builders Risk Insurance in Virginia

You can’t go wrong working with us if you want the best choice for builder’s risk insurance in Virginia. Count on our friendly and skilled insurance agents to guide you and answer your questions.

With pride we can say we are unmatched when it comes to being the most affordable insurance provider. With a 96.4% client retention rate, we can provide excellent service and have the data to back it up. Our valued clients enjoy exclusive programs that only we can provide.

Fill out our form or call us at 888-505-9012 today for a free insurance quote that will be ready in just a few minutes!

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