Builder’s Risk Policy
Builder’s risk insurance, also known as course of construction insurance, is a specialized type of property insurance that helps protect buildings under construction. It’s essential in helping protect construction projects, but can be complex and often misunderstood. However, having a properly structured builder’s risk insurance policy can be crucial. In fact, it will serve as the backbone of a successful risk management program. The coverage can include materials, supplies and even equipment on site and in transit.
Builder’s risk insurance helps protect construction projects from property damage due to:
• Fire
• Lightning
• Hail
• Explosions
• Theft
• Vandalism
• Acts of God