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Builders Risk provides coverage for physical damage to the insured structure during the course of construction. Coverage is also extended to construction materials at the job site that will become a permanent part of the structure.

Builders Risk Insurance

*Builders Risk provides coverage for physical damage to the insured structure during the course of construction. Coverage is also extended to construction materials at the job site that will become a permanent part of the structure. A builders risk policy will pay for damages up to the coverage limit. The limit must accurately reflect the total completed value of the structure (all materials and labor costs, but not including land value). The construction budget is the best source for determining the appropriate limit of insurance.

 
The policy may provide coverage for damage done to the insured structure from a wide variety of events. Damage from the following events will be covered by most policies:
  • Fire
  • Theft
  • Hail
  • Vandalism
  
  • Wind
  • Lightening
  • Explosion
  • Vehicles/Aircraft
   
Common builders risk coverage extensions include:
  • Property in transit
  • Debris removal
  • Valuable papers
  
  • Property in temporary storage
  • Fire department service charge

 

You should know:

  • Sub-contractors are responsible for insuring their own property.
  • No coverage is provided for equipment or tools.
  • A builders risk policy does not provide any type of liability coverage.
  • Coverage typically ends automatically when the building is completed, occupied, sold or the policy term ends - whichever comes first.

For a free evaluation of your insurance needs,
call (770) 730-9112 or email one of our experts at commercial.insurance@aspeninsurance.net
*Please note: This is a general summary of a generic builders risk insurance policy. For specific terms, coverage and exclusions please refer to the actual policy. ONLY the original policy will determine the applicable coverage and nothing stated here changes the insurance contract. Aspen Insurance Agency offers products through various insurance companies and is licensed to sell its products in Georgia. The content on this site should not be considered a solicitati on or an offer to sell products or services in any other state besides Georgia, where Aspen Insurance Agency is properly registered/licensed. The information on this site is a courtesy of Aspen Insurance Agency and is intended for informational purposes only. © 2006