Work in progress
Protect the covered structure while it is being built, remodeled, or renovated.
Coverage for projects under construction
Builders Risk Insurance
Builders risk insurance—also called course of construction insurance—helps protect a building project and covered materials while construction or renovation is underway. The policy should reflect the contract, project value, timeline, and parties with an insurable interest.
Coverage availability, eligibility, and terms vary by carrier and state. A quote request does not bind coverage.
Materials and fixtures
Address covered materials, supplies, and equipment intended to become part of the completed project.
Project-specific terms
Align limits, covered parties, location, valuation, and policy dates with the construction agreement.
What builders risk insurance may cover
Builders risk is a property policy for a project in the course of construction. Depending on the form and endorsements, it may cover the structure and materials against covered causes of loss.
- The building or structure under construction
- Materials and supplies at the jobsite
- Covered property in temporary storage or transit
- Certain debris removal and soft costs
- Existing structures during renovation, when specifically included
Who purchases a builders risk policy
The owner, developer, or general contractor may purchase the policy. The construction contract should identify responsibility and the parties that need to be included as named insureds or otherwise protected.
When coverage starts and ends
Coverage is written for the project period and usually ends based on policy events such as completion, occupancy, acceptance, sale, or expiration. Delays and changes in value should be reported before coverage ends or the limit becomes inadequate.
Common questions
Builders Risk Insurance FAQ
Is builders risk the same as contractor general liability?
No. Builders risk primarily protects covered project property. Contractor general liability addresses certain third-party injury and property damage claims.
Does builders risk cover renovations?
It can, but the policy must be structured for the renovation and may need to include the existing building, temporary work, and the value of new construction.
Does builders risk cover tools and equipment?
Some incidental items may be covered, but contractors' tools and mobile equipment often require separate inland marine or equipment coverage.
Talk through your options