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Home / Specialty Lines / Builders Risk

Builders Risk

Explore our specialty lines of coverage to learn more about unique risk exposures that could impact your business. 

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Why is this important and what does it cover?

Whether you are a custom home builder, real estate owner or a commercial contractor, we can provide insurance coverage that protects your construction project while conforming with your lender’s requirements. We offer coverage for insurable interest in materials, supplies, equipment and real property during construction or renovation of a building or structure. It’s paramount to assess the construction project and determine which coverage terms will best protect the owner’s interests. Coverage terms can vary significantly.

To reduce the likelihood of claims and obtain best-in-class pricing, it's important to work with an insurance professional who understands your construction timelines, vets potential contractors, reviews applicable contracts and helps implement safety and security practices.

Claims Example:

A framing contractor during the construction process had incorrectly installed several wall studs which caused a partial collapse. The resulting damages were $45,000 and the faulty framing work that was also damaged totaled $15,000 (including labor and materials). In this example, the ensuing damages were covered ($45,000) but the actual framing work performed that was faulty was not insurable. Many policies do not include broadened coverage terms to include the cost to replace and rectify the "faulty work or product" from preventing further damage (coverage needed is LEG3).

Coverage Features:

  • No fault Coverage

  • New Construction or Renovations

  • Flexible Deductibles

  • Water Damage, incl. Wind Driven Rain

  • LEG 3 Coverage Available

  • Flood & Earthquake Available

  • Coverage for Theft

  • Broad definition of Named Insureds

  • Different Term Options Available

  • Soft Costs Included

  • Replacement Cost Valuation

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