Builders' Risk Insurance

There are a lot of things that could happen while you’re working on a construction project. Halfway through a remodel, an unexpected fire destroys the work you’ve completed, or a flash storm damages the materials you’re keeping on a project site. In these instances, you’ll face a loss. And those losses may not be covered by your traditional property insurance policy. Builders risk policies protect you from the incidents you can’t plan for, and helps you recoup your losses when the unexpected strikes.

When you’ve got a builders risk policy covering your construction project, you’re covered against losses. Builders risk insurance reimburses your business for losses if thieves steal copper wire or lumber from your project site. It covers the cost to repair or rebuild if a fire or an extreme storm damages your project. Builders risk insurance may also cover the cost of cleanup and clearing away debris so you can get back to work without delay.

The cost of builders risk insurance varies depending on many factors such as geographic location, project scope, and the amount of insurance you need. Suffering a loss on your project site will undoubtedly be much more expensive than the cost of builders risk insurance. A licensed insurance professional can explain your options and provide a builders risk insurance quote to get your started.

Builders risk policies cover your in-progress construction project from many risks such as fire or weather damage to a structure in progress, vandalism to your structures, and even theft of your on-site materials, tools, and equipment. Any one of these situations could significantly hurt your business so a builders risk insurance policy will provide you with the protection you need to successfully complete your project.