Builder’s Risk Insurance

A builder’s risk insurance policy is designed to protect a property during the course of a construction job. Sometimes known as contractor’s all-risk insurance or course of construction insurance, this policy provides coverage for repair and replacement costs during the building phase of construction projects and can occasionally provide coverage for a period of time after the job is completed.

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Builder’s Risk Insurance

A builder’s risk insurance policy is designed to protect a property during the course of a construction job. Sometimes known as contractor’s all-risk insurance or course of construction insurance, this policy provides coverage for repair and replacement costs during the building phase of construction projects and can occasionally provide coverage for a period of time after the job is completed.

Request A Quote

What Is Builder’s Risk Insurance?

In a typical homeowner’s insurance or business policy, it would be unusual to have enough coverage to replace your priceless collectibles should they become lost or damaged. Your dedicated fine arts insurance agent will work with you to provide coverage that is based on the true value of your items so that your irreplaceable goods may be provided for.

Builder’s risk insurance coverage may include protection for:

Building materials
Fixtures

Appliances
Anything that is intended to be part of the structure

Coverage limits will reflect the completed value of the structure, taking into account materials and labor but not the land on which it is situated. These policies are generally written to reflect a period of time, such as three months, six months or twelve months, but can be extended if the project is not completed on time.

What Is Covered By Builder’s Risk Insurance?

Your builder’s risk policy can cover perils such as:

Fire
Wind
Theft
Lightning

Hail
Explosions
Vandalism
Construction vehicles

Builder’s risk insurance policies do not include coverage for:

Sub-contractors
Tools or equipment

Liability
Accidents on the job site

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There are many complexities related to this type of policy. Our experienced builder’s risk insurance agents can help you determine the best coverage for your needs. We have been serving the local construction industry in Charleston and across South Carolina for over a decade and have deep knowledge within the industry. Call today to speak to our local insurance agents, or request a builder’s risk insurance quote.

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