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Builders Risk Insurance

Temporary property coverage for a building while it is under construction or renovation. It protects the structure and the materials on site until the project is finished. Also called course of construction.

We shop the market for you, no broker fees

  • Travelers

    Builders risk

  • The Hartford

    Construction property

  • Markel

    Construction specialty risks

  • Chubb

    Construction property

  • Builders Mutual

    Contractors and builders

  • Great American

    Construction property

  • AmTrust

    Construction packages

  • Starr

    Construction risks

Built for owners and contractors

  • General contractors on a new build or remodel
  • Owners financing a construction project
  • Developers a lender requires to carry it
  • Anyone renovating a property to completion

What changes your premium

There is no flat rate for this coverage. These are the inputs a carrier prices against, and they are the same things the quote form asks you for.

  • Your class of business and what you actually do day to day
  • Annual revenue, and payroll where the line rates on it
  • How many people work for you, including subcontractors
  • Where you operate, down to the ZIP and the building
  • The limits and deductible you choose
  • Your claims history over the last three to five years

How it works

  1. 10 minute form

    A few questions about your business or home.

  2. We shop the market

    We compare carriers and read the forms line by line.

  3. Pick the best policy

    We explain what is covered, what is not, and what it costs.

Text us. We're by your side.

13:19
506

Menlo Agent

  1. Today, 9:41 AM
  2. Our lease for a second location starts September 1. Does our current policy cover it?
  3. Not automatically. Send me the address, square footage, operations, contents value, and move in date. I will ask the carrier to add it before you take possession.
  4. Sending the lease details now.

  5. Received. The location was added effective September 1. Your updated policy is ready.

    View updated policy

    menloinsurance.com

What this policy covers

The structure under construction

The building or project itself while it is being built or renovated, against fire, wind, theft, and vandalism.

Materials and supplies

Building materials on site, and often in transit or at a temporary storage location, before they are installed.

Soft costs

When added, extra expenses from a covered delay like loan interest, permits, and lost rent.

Debris removal

Cleaning up after a covered loss so the project can continue.

Frequently asked questions

What is builders risk insurance?

It is temporary property insurance that covers a building or renovation while it is under construction, including the structure and usually the materials on site. It is also called course of construction insurance. It ends when the project is finished.

Who needs builders risk insurance?

The party with financial exposure during construction: the owner, general contractor, or developer, depending on the contract. Lenders almost always require it on a financed project, and contracts often specify who buys it.

How much does builders risk insurance cost?

Cost is usually a percentage of the total completed value of the project and depends on construction type, location, project length, and coverage extensions. We quote it against your actual project value rather than a flat rate.

What does a builders risk policy cover?

Direct physical loss to the project under construction from perils like fire, wind, theft, and vandalism, plus materials on site and often in transit. Soft costs and debris removal can be added. It does not cover the defect itself or contractor tools.

How long does a builders risk policy last?

It runs for the construction term, commonly 3, 6, or 12 months, and can often be extended if the project runs long. When the building is complete and occupied it converts to a standard property policy.

Is builders risk the same as course of construction insurance?

Yes. Course of construction is another name for the same coverage. Carriers use the terms interchangeably.

Does this policy cover faulty workmanship or design?

A construction defect itself is generally excluded, though resulting damage may be covered.

Does this policy cover tools and equipment?

Contractor tools and machinery belong on an inland marine or equipment policy, not builders risk.

Does this policy cover injuries on the job?

Worker injuries are workers compensation; third-party injury is general liability.

Does this policy cover the finished, occupied building?

Once the project is complete and occupied, coverage shifts to a permanent property policy.

Get a builders risk quote for your project

Tell us the project value, construction type, and timeline. We compare carriers and confirm the term and extensions fit.

Talk to a specialist