When a home or building is under construction, it faces risks that standard property insurance often does not cover. Builders Risk insurance is designed to protect a structure and materials while a project is being built or significantly renovated.

For property owners, contractors, and developers, this coverage helps protect the financial investment in the project if unexpected damage occurs.

What Builders Risk Insurance Covers

Builders Risk insurance generally protects the building under construction and the materials used in the project.

Common covered causes of loss may include:

  • Fire
  • Wind or storm damage
  • Theft of building materials
  • Vandalism
  • Certain types of water damage

Coverage may also apply to:

  • Materials stored at the job site
  • Materials in transit
  • Temporary structures such as scaffolding

Because construction sites can be vulnerable to weather, theft, and accidents, Builders Risk insurance provides protection while the project is in progress.

Why Standard Property Insurance May Not Cover Construction

Many homeowners and business owners assume their current insurance policy will cover a construction project. In many cases, standard homeowners or commercial property policies limit coverage once construction begins.

Builders Risk insurance fills this gap by providing coverage designed specifically for construction and renovation projects.

Who Should Consider Builders Risk Insurance

Builders Risk coverage is often used by:

  • Property owners building a new home
  • Homeowners completing major renovations
  • Contractors and developers
  • Business owners expanding or remodeling a building

Many construction contracts require Builders Risk coverage before work begins.

Builders Risk Policy Options

At Holly McMillin Insurance Group, we offer Builders Risk policy options through:

  • Liberty Mutual
  • US Assure

These programs allow us to help match the right coverage to a wide range of construction and renovation projects.

Protect Your Construction Investment

New construction and renovation projects involve significant time and financial investment. Builders Risk insurance helps protect that investment while the project is underway.

Before construction begins, it is important to review your insurance coverage to make sure the project is properly protected.