Builders Risk Insurance

Builders Risk Insurance is coverage that protects a person's or organizations insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.

Builders risk insurance, also called "course of construction," insurance is a type of property coverage for buildings under construction, as well as all of the materials and equipment used in the project. You will typically need to purchase coverage for 100 percent of the anticipated construction costs.

The coverage can be especially important if you are working with materials that are prone to damage, or if you are working in an area that is prone to certain types of severe weather. It is also important that coverage protects your investment from unforeseen risks. A agent can help you with the type and amount of builders risk coverage you need.

What Builders Risk Insurance Covers

  • Property Damage

  • Theft

  • Labor costs and earned profits

  • Man-made disasters

  • Other damages

What Does Builders Risk Insurance Cost?

A builders risk policy will typically cost one to three percent of the total construction budget, depending on the coverage and insurance company. A independent agent can help you sort through the different coverage options and give you an exact builders risk insurance quote.

 How Long Does my Policy Last?

Normally the insurance lasts three, six or twelve months, and you can usually extend the term at least once if the building is not completed. The coverage ends when the building is completed or occupied.

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