Builders Risk / Course of Construction Insurance

Builders Risk Insurance, also known as Course of Construction Insurance, protects your construction projects from unexpected losses during the building phase. This specialized insurance covers a variety of risks associated with construction, giving you peace of mind as you work toward project completion.

What is Builders Risk Insurance?

Builders Risk Insurance provides financial protection for construction projects, covering structures under construction as well as building materials and equipment. Coverage includes:

• Property Damage: Covers damage to the building under construction and materials on-site.
• Equipment and Tools: Protects tools and equipment used on the job site from damage or theft.
• Business Interruption: Compensates for losses if construction is delayed due to covered events.

Benefits of Builders Risk Insurance

Builders Risk Insurance is essential for contractors, property owners, and developers. Key benefits include:

• Asset Protection: Safeguards the investment in construction projects from unforeseen damages.
• Reduced Financial Impact: Minimizes out-of-pocket expenses for repair or replacement costs.
• Project Continuity: Helps ensure projects proceed smoothly, even after covered losses.

Coverage Provided

Builders Risk Insurance typically includes coverage for:

• Building Structure: Covers the structure under construction from damage due to fire, wind, theft, and more.
• Materials and Supplies: Protects construction materials stored on-site or in transit.
• Temporary Structures: Covers scaffolding, fencing, and other temporary structures on the job site.
• Soft Costs: Covers expenses like permits, architectural fees, and legal costs if construction is delayed.
• Testing Coverage: Protects against damages occurring during testing of equipment or systems.

Types of Builders Risk Insurance Policies

Builders Risk policies can vary based on project requirements and risks. Common types include:

• Standard Builders Risk: Provides basic coverage for property damage during the construction period.
• All-Risk Builders Risk: Covers all risks except those specifically excluded, offering more comprehensive protection.
• Reporting Form Policy: Allows you to report construction progress and adjust coverage as the project advances.
• Completed Value Policy: Covers the total value of the completed project from the beginning of the policy term.
• Installation Floater: Protects materials and equipment being installed in renovation or installation projects.

Questions Needed to Get a Quote

Why Choose Us for Builders Risk Insurance?

• Customized Coverage: We tailor our policies to meet the specific needs of your construction project.
• Competitive Pricing: Affordable rates with robust coverage to protect your investment.
• Expert Guidance: Our agents provide guidance to ensure you have the right coverage for your construction needs.