Builder’s Risk

Who needs builder’s risk Insurance?

Owners – Builders risk insurance is available directly to the owner of residential and commercial projects.  Developers and speculative projects are also eligible.  If you are acting as the owner/builder, the actual construction work must be done by licensed and experienced contractors. More Owner/Builder Insurance information.

 – Builder’s risk coverage is available to cover your projects big and small.  For developments with more than one location, a reporting form policy can help simplify your builder’s risk administration.

New Construction
:  Builder’s risk insurance for new construction projects is for ground up construction.  The coverage applies to the materials at the job site and the structure as it is being built.

:  The course of construction insurance policy will cover the value of the rehab work and may also provide coverage for the existing building (shell).  For speculative rehabs, coverage may also be provided for a developers anticipated profit. This is availble for commercial rehab projects only.

What is covered under builder’s risk insurance?

The policy will provide coverage for damage done to the insured structure from a wide variety of events. Damage from the following events will be covered by most policies:
• Fire
• Wind (may be limited in coastal areas)
• Theft
• Lightning
• Hail
• Explosion
• Vandalism
• Vehicles/Aircraft

No insurance policy covers everything. You should read your course of construction policy to be familiar with its limitations and exclusions. Standard exclusions include earthquake, employee theft, flood and other water damage, weather damage to property in the open, war, government action, contract penalty,

voluntary parting and mechanical breakdown. Earthquake and flood coverage may be purchased in some areas. Your quote will indicate if they are included in the policy offered from the insurance company.

How can I purchase Builder’s Risk Insurance?

Click here to get started with a free quote or call  916-773-3800 to speak with an ISU representative.  We will help you tailor a policy that will fit your needs.