Builder’s Risk is a type of inland marine coverage designed to protect the interests of the person or organization during the construction or renovation of a building or structure. Also known as “course of construction” insurance, Builder’s Risk coverage begins at the beginning of a project and ends when all work is completed, and the property is ready for use or occupancy.

In general, Builder’s Risk coverage protects insurable interests or materials against loss or damage caused from natural or man-made disasters including fire, lightning, hail, explosions, hurricanes, theft, vandalism, and other risks.

Who needs Builder’s Risk insurance?

From residential to commercial projects, there are many groups that purchase policies, including:

  • Commercial Contractors
  • Commercial Property Owners
  • Municipalities (local governments, school districts)
  • Real Estate Agents
  • Retail Tenants who are Expanding or Remodeling a Leased Space
  • Subcontractors
  • Homeowners/Property Owners
  • Builders
  • Contractors
  • House Flippers
  • Development/Investment Companies
  • Retail Companies
  • School Districts