Builders Risk Insurance
What is Builders Risk Insurance?
Builders Risk insurance, also called course of construction insurance, protects a building while it’s going up. It covers the materials, fixtures, and equipment on your project if they’re damaged or lost to a covered cause, like fire, theft, vandalism, or a storm. We cover new ground-up builds, remodels, and renovations for residential and light commercial projects, up to $10 million per job site and up to three stories.
Many people assume their homeowners or property policy covers a project in progress. Often it doesn’t. Builders Risk fills that gap, so one unexpected loss doesn’t put your investment, or your schedule, at risk.
Who Needs Builders Risk Insurance?
If you’re building or renovating, Builders Risk is worth a look. That includes general contractors, property owners, developers, and homeowners taking on a remodel or new build. Getting a construction loan? Most lenders require Builders Risk before work begins.
Job sites face risks everyday policies may not cover, from fire and storms to stolen materials and vandalism. Hiring a contractor? Ask whether their Builders Risk policy covers your project, and whether the limit matches what you’re building.
Key Features and Benefits
- Flexible Terms that follow your build schedule
- Competitive Pricing for projects of every size
- Prorated Options so you pay for the time you need
- Multiple Deductible Options to fit your budget
- Extension Options if your project runs long
- Theft and Vandalism Coverage for the most common job-site losses
Eligible States
We offer Builders Risk insurance in 11 states: AL, AZ, FL, GA, LA, MS, NC, SC, TN, TX, and VA.
