✪ Builder’s Risk Insurance
Building or Renovating?
Protect Your Project with
Builder’s Risk Insurance
Construction projects face property risks before the work is complete. Builder’s Risk Insurance helps protect covered structures, building materials, and certain equipment during new construction or renovation against covered causes of loss.
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Why Choose Builder’s Risk Insurance?
Construction projects can face property losses before the work is finished. Builder’s Risk Insurance helps protect covered property throughout construction or renovation, helping contractors, developers, and property owners manage project-related property exposures.
Buildings Under Construction
Helps protect covered buildings and structures while construction work is underway, subject to the terms and conditions of the policy.
Building Materials
Coverage may include materials and supplies intended to become a permanent part of the completed construction project.
Materials in Transit
Depending on the policy, coverage may extend to certain construction materials while they are being transported to the project site.
Temporary Structures
Certain temporary structures used during construction may be covered when included within the Builder’s Risk policy.
Renovation Projects
Builder’s Risk Insurance can also be structured for qualifying renovation and remodeling projects involving existing properties.
Coverage Through Construction
Coverage can help protect the project during applicable stages of construction until the policy ends according to its specific terms.
How Builder’s Risk Insurance Works
Builder’s Risk Insurance helps protect covered property throughout the course of construction. Here’s how ISOM helps structure coverage around your project:
Review the Construction Project
We review the project type, location, construction details, timeline, and parties involved.
Identify Project Exposures
Potential property exposures involving structures, materials, equipment, and project operations are evaluated.
Determine Coverage Needs
We assess applicable Builder’s Risk coverage needs based on the project scope and construction requirements.
Review Available Coverage
Suitable policy options, coverage terms, conditions, and applicable exclusions are reviewed with your business.
Put Coverage in Place
Once coverage is selected, we help complete the required documentation and coordinate policy placement.
Support You Through Construction
ISOM provides ongoing support as the construction project progresses and coverage needs or project details change.
Protect the Build—Before the Project Is Complete
Construction sites can change every day, and property can be exposed to loss before the finished building is ready for use. Builder’s Risk Insurance helps protect covered structures, materials, and property during the course of construction.
Whether you’re managing new construction or a major renovation, the right coverage should reflect the project’s scope, materials, timeline, and specific property exposures.
ISOM helps review those details and structure construction project insurance around the work being performed.
Protect the project while you build.
Coverage That Moves With Your Construction Project
Builder’s Risk Insurance can be structured around the changing needs of a construction or renovation project, helping protect covered property from applicable risks during the course of construction.
- Coverage for buildings under construction
- Protection for covered materials and supplies
- Options tailored to project-specific exposures
Who Needs Builder’s Risk Insurance?
General Contractors: Protect covered construction work, materials, and property throughout the building process.
Property Owners: Help protect your financial interest in a building while construction or renovation is underway.
Developers: Address property exposures associated with new construction and development projects.
Renovation Projects: Provide coverage for qualifying existing structures, materials, and improvements during major renovations.
Whether you’re building from the ground up or renovating an existing property, our Builder’s Risk Insurance solutions can be structured around the scope, timeline, and exposures of your construction project.
Who Benefits from Builder’s Risk Insurance?
- General Contractors
Protect covered structures and materials while construction work is underway.
- Property Owners
Help protect your financial interest in buildings undergoing construction or renovation.
- Real Estate Developers
Address property exposures throughout new development and construction projects.
- Renovation Projects
Protect covered existing structures, improvements, and materials during qualifying renovations.
ISOM helps review the project scope, construction details, materials, and timeline to structure Builder’s Risk Insurance around the exposures associated with the project.
PROJECT PROTECTION + PROPER COVERAGE: BUILT FOR CONSTRUCTION
Streamlined Builder’s Risk Coverage Process
Construction projects involve changing exposures from start to finish. Our process helps keep your Builder’s Risk Insurance aligned with the property, materials, and scope of your project:
- Review of construction and renovation details
- Assessment of covered property and materials
- Coverage structured around project exposures
- Review of applicable policy terms and conditions
- Ongoing support throughout the construction period
Take the Next Step—Protect Your Project
A construction project represents significant time, materials, and resources. ISOM helps contractors, developers, and property owners secure construction project insurance designed around the risks present while work is underway.
BUILDER’S RISK INSURANCE — PROTECTION WHILE YOU BUILD
Protect covered structures, materials, and project property throughout the course of construction.
Frequently Asked Questions About Builder’s Risk Insurance
What is Builder’s Risk Insurance?
Builder’s Risk Insurance is a type of property coverage designed to protect covered buildings, structures, materials, and other insured property while a construction or renovation project is underway.
Who needs Builder’s Risk Insurance?
General contractors, property owners, developers, and other parties with a financial interest in a construction project may need Builder’s Risk coverage. Contract or financing requirements can also influence who is responsible for obtaining the policy.
What does Builder’s Risk Insurance cover?
Depending on the policy, coverage may apply to the building under construction, materials, supplies, and certain property associated with the project when damaged by a covered cause of loss.
Does Builder’s Risk Insurance cover renovation projects?
Yes, Builder’s Risk Insurance can be structured for qualifying renovation and remodeling projects. Coverage should reflect the existing structure, planned improvements, construction scope, and other project-specific exposures.
Are construction materials covered by Builder’s Risk Insurance?
Construction materials and supplies intended to become part of the completed project may be covered. Coverage for materials stored off-site or in transit depends on the specific policy terms.
When should Builder’s Risk coverage begin?
Coverage should generally be arranged before applicable construction exposures begin. The appropriate effective date depends on the project, contract requirements, and terms of the Builder’s Risk policy.
How long does a Builder’s Risk policy last?
Builder’s Risk Insurance is generally written around the construction period. Coverage ends according to the policy terms, so project timelines and anticipated completion dates should be reviewed carefully.
Is Builder’s Risk the same as General Liability Insurance?
No. Builder’s Risk Insurance primarily addresses covered property exposures associated with construction, while General Liability Insurance addresses certain third-party bodily injury and property damage liability exposures. A construction business may need both.
What information is needed for a Builder’s Risk Insurance quote?
Information may include the project location, type of construction, project scope, construction timeline, property details, materials, renovation details when applicable, and other information relevant to the project.
How can ISOM help with Builder’s Risk Insurance?
ISOM Brokerage Inc. can review your construction project, identify relevant property exposures, evaluate coverage needs, and help structure Builder’s Risk Insurance around your project and construction requirements.