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Builders Risk Insurance

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Because every construction project is unique, each builder's risk policy is different. You can customize your policy to fit your project's needs by getting coverage extensions.

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Property damage
Debris removal
Law/Local ordinance changes
Labour expenses
Material Cost escalation

Property damage coverage

Risk Factors

Your construction property can get damaged by any unspecific event like fire, explosion, hail, etc and you become liable for the same.


A builder’s risk insurance policy helps protect your construction projects from certain kinds of property damage. It can also help cover additional soft costs if property damage causes a delay. This can include lost sales, rental income, additional interest on loans and real estate taxes.

Debris removal coverage

Risk Factors

The debris can be a major issue if you are into the construction of buildings and other structures.


Debris removal coverage covers the cost of clearing and disposing of the debris and materials from a covered loss, which can often be a massive expense. Some insurers will also cover demolition costs if the remaining parts of a damaged structure must be torn down.

Law/Local ordinance changes coverage

Risk Factors

There can be a possibility that the rules, regulations, and other laws change during your construction project and make an impact on the same.


Suppose a law or local ordinance changes during the construction project. In that case, this policy protection will cover the added costs of complying with the new laws, plus the costs of any delays that the new compliance adds to the project.

Labour expenses coverage

Risk Factors

There can be instances where your labor expenses increase due to commitments and labor strikes for an increase in wages.


Some policies will cover the additional labor costs that result from a covered loss; others will offer that coverage as an optional extension. Almost all insurers will offer this form of coverage.

Material Cost escalation Coverage

Risk Factors

There can be a possibility that you gave a quotation for a construction project, but the material prices increased due to changes in the economy.


This protects the policyholder from any significant increases in the cost of materials and services during the project. If unforeseen economic changes lead to a drastic change in price for certain materials, this policy extension covers that cost.

What is Builders risk insurance?

Builder's risk insurance, often referred to as course of construction insurance in some places, is a special type of property insurance. This type of insurance covers a building where the building or insured area is currently being constructed. Most owners will need every contractor to carry this insurance, which can only cover the structure or the materials already present and waiting to be installed or brought to the construction site.

As long as the coverage maximum is met, damages are covered by the builder's risk insurance policy. However, the maximum must represent the structure's completed worth fairly (all materials and labor costs, excluding land value). The best place to find the right insurance limit is the building budget.

What does Builders risk insurance cover?

Most policies will cover damage from the following events:

  • Fire
  • Wind (may be limited in coastal areas)
  • Theft
  • Lightning
  • Hail
  • Explosion
  • Vandalism
  • Vehicles or aircraft

Why is Builders risk insurance important?

A builder's risk insurance policy aids in preventing some property damage to your construction projects. If property damage results in a delay, it might also aid in covering additional soft expenditures or expenses unrelated to construction. This may consist of the following:

  • Rental income
  • Real estate taxes
  • Additional interest on loans
  • Lost sales

Because every construction project is unique, each builder's risk policy is different. You can customize your policy to fit your project's needs by getting coverage extensions.

How does Builders risk insurance differ from Contractor's general liability insurance?

This is where confusion often arises. For example, a contractor might ask: 'Why do I need builder's risk insurance when I have contractor's general liability insurance?' While, on the surface, the two coverages may seem similar, they play very different (but equally important) roles.

While builder's risk insurance covers the contractor's property or equipment during construction, the contractor's general liability insurance policy covers bodily injury, property damage, and any resulting liability that may arise from possible accidents. In addition, it protects contractors if they're accused of causing injury or property damage.

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Already have Builders risk Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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