What is builders risk insurance?
Builders risk insurance can be complex and easily misunderstood, as coverage and policies vary from one insurance company to the next. But in a nutshell, builders risk insurance is property protection for your construction project, from start to finish.
Whether you’re completing a home construction, renovation, or installation, a builders risk policy protects the project structure, as well as any materials, supplies and equipment used in the course of construction from various types of damage or loss. A builders risk policy can be purchased by the contractor, property owner, or even a lender, and may also cover the architect or engineer involved.
Once your project is complete, your builders risk insurance policy ends, and you’ll want to consider a homeowners insurance policy (if you don’t already have one) to continue protecting your investment.
Get a Quote