Property Insurance
Builders Risk Insurance for Construction & Renovation Projects
Builders risk insurance is designed to address certain property risks during construction or substantial renovation. Whether you're building new, renovating, or managing a project as an investor or developer, understanding builders risk coverage can help protect the property while work is underway. Insurance Connections Agency can help you discuss builders risk options.
Who Builders Risk Serves
Several audiences commonly need builders risk coverage during a project.
- Property owners building or renovating
- Real estate investors
- Builders and contractors
- Developers
- Renovators
What Builders Risk May Address
Actual coverage depends on the policy, but builders risk commonly considers protection for the property and materials during construction.
- New construction
- Renovations
- Materials on site
- Property under construction
- Project timelines
- Coverage period for the project
Coverage Period and Timing
Builders risk coverage is tied to a project's timeline. Understanding when coverage should start and end — and how it transitions to permanent property insurance — is an important part of planning a project. Chuck can help you think through that timeline.
Things to Consider
- Whether the project is new construction or renovation
- The value of the structure and materials
- The expected project timeline
- How coverage transitions to permanent insurance after completion
Frequently Asked Questions
What is builders risk insurance?
Builders risk insurance is designed to address certain property risks while a building is being constructed or substantially renovated. Coverage varies by policy and project.
Do I need builders risk insurance for a renovation?
Renovation projects can carry property risks that a standard policy may not fully address. Discussing builders risk coverage for your renovation with an independent agent can help clarify what applies.
Compare your property insurance options
Talk directly with Chuck for a personal review of your coverage. As an independent agent, he can compare available options from multiple carriers.