Builders risk policies protect your construction project from a range of perils. Here's what's typically covered, and what's not.
Builders Risk Insurance
Protect your construction project from the ground up. We help home builders, general contractors, and homeowners find the right builders' risk coverage at the right price.
Coverage for fire, theft, vandalism, and weather damage
New construction, renovations, and remodels
Residential and commercial projects
Fast quotes from top-rated carriers
What is Builders Risk Insurance?
Builders' risk insurance, also called course of construction insurance, protects buildings under construction from covered losses like fire, theft, vandalism, and certain weather events. It covers the structure itself, as well as on-site materials, fixtures, and equipment in transit.
At WeatherBee's, we shop multiple carriers to find you the right builders' risk coverage at competitive rates.
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Builders Risk Insurance FAQs
Q What is builders risk insurance?
Builders' risk insurance is a type of property insurance that covers buildings under construction. It protects against losses from fire, theft, vandalism, and certain weather events. Coverage applies to the structure, materials, and fixtures until construction is complete.
Q Who needs builders risk insurance?
Anyone with a financial interest in a construction project may need builders' risk coverage, including home builders, general contractors, developers, and homeowners building a custom home. Lenders typically require it for construction loans.
Q What does builders risk insurance cover?
Builders risk typically covers the structure under construction, building materials on-site or in transit, and installed fixtures. It protects against fire, lightning, windstorm, hail, theft, and vandalism. Soft costs, debris removal, and ordinance coverage can be added.
Q Who pays for builders risk insurance?
It depends on the contract. On custom home projects, the homeowner often pays. On contractor-led projects, the builder or GC may be required to carry it. On financed projects, the lender typically requires coverage and is listed as loss payee.
Q Do I need builders risk if I have homeowners insurance?
Standard homeowners insurance doesn't cover buildings under construction. If you're building a new home or doing a major renovation, you'll likely need a separate builders risk policy until the project is complete.
Q How long does builders risk coverage last?
Policies are typically written for 3, 6, or 12 months depending on the expected construction timeline. If the project runs longer, the policy can usually be extended.