Builders Risk insurance is a form of property insurance that covers a building where the building is being constructed. This insurance can simply cover the structure of the building or it can also include the materials stored onsite which have not yet been installed on the structure.
The builder’s risk insurance policy will compensate damages up to a coverage limit determined by the property owner. If you are unsure of how much coverage you will need, providing the construction budget to your All-Risks representative will give you the best estimation for this insurance coverage.
Builders Risk Insurance is available in three, six and twelve month terms. As with all construction projects, completion dates may need to be extended. In an instance such as this, a builders risk insurance police can be extended (extension of insurance is only available once per construction project).
Builders Risk Insurance for most policies will cover:
- Fire
- Wind
- Theft
- Lightning
- Hail
- Explosion
- Vandalism
- Vehicles/Aircraft
Contact an All-Risks Insurance Brokers representative to discuss your specific needs and all policy coverages will be discussed.