Builders Risk
Builders risk covers the project itself while it is being built: the structure, materials on site and often materials in transit, against fire, wind, theft and similar losses.
The construction contract decides whether the owner or the contractor buys it. For design-build firms and developers it is often your responsibility.
What It Is Built For
Fire and storm
Damage to the partly built structure during construction.
Theft and vandalism
Materials and equipment stolen or damaged on site.
Materials in transit or storage
Often covered, within set limits.
Soft costs
Extra interest, fees and delay costs after a covered loss, if added.
Builders Risk: Common Questions
Who should buy builders risk?
Whoever the contract names. Owners often buy it on larger projects; contractors often buy it on smaller ones.
Does it cover faulty design or workmanship?
Usually not the faulty work itself. Some policies cover resulting damage.
When does coverage end?
Typically at completion, occupancy or a set date. Tell us early if the schedule slips.
Tell Us About Your Firm. We’ll Tell You What We See.
Starting out or renewing, with a policy in hand or not. If something is worth discussing, we’ll call. If not, we’ll say so.