Builders Risk Insurance

Builder's Risk Insurance covers your structure while it is under construction or renovation.

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What is Builders Risk Insurance?

Builder's Risk Insurance, also known as course of construction insurance, is a crucial component for those involved in the construction or renovation of a building or structure. This policy provides coverage for damage to the construction project itself until it's completed and ready for use.

Why You Need It

1

To Protect Financial Investment

Builder's risk insurance safeguards your financial investment from unexpected events like fire, theft, or natural disasters that could significantly impact the progress and costs of construction.

2

To Meet Contractual Obligations

Many construction contracts require builder's risk insurance, ensuring all parties are protected against unforeseen damage to the project.

3

To Ensure Business Continuity

By covering additional construction costs resulting from covered losses, builder's risk insurance helps ensure that projects are completed despite setbacks, thus maintaining business continuity.

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What Builders Risk Insurance Covers

  Construction Material and Equipment

Construction Material and Equipment

Builder's risk insurance provides coverage for construction materials, equipment, and fixtures in the event of a covered loss.

Property Damage

Property Damage

This includes damage to the project caused by fire, theft, vandalism, and certain weather events.

Soft Costs

Soft Costs

These are additional expenses related to the project delay caused by a covered loss, such as loan interest, advertising, consultant fees, and insurance premiums.

What Builders Risk Insurance Doesn't Cover

Not Covered

Accidents and Injuries

Builder's risk insurance doesn't cover accidents or injuries on the job site; this would fall under workers' compensation or general liability policies.

Not Covered

Poor Workmanship

Faults in design, planning, workmanship, or materials are typically not covered under builder's risk insurance.

Not Covered

Natural Disasters

Some natural disasters like earthquakes and floods may not be covered by default. You have to purchase these coverages as an add-on.

Reasons To Have Builders Risk Insurance Coverage

Builders Risk Insurance is a must have for businesses that need:

To Protect Financial Investment

Builder's risk insurance safeguards your financial investment from unexpected events like fire, theft, or natural disasters that could significantly impact the progress and costs of construction.

To Meet Contractual Obligations

Many construction contracts require builder's risk insurance, ensuring all parties are protected against unforeseen damage to the project.

To Ensure Business Continuity

By covering additional construction costs resulting from covered losses, builder's risk insurance helps ensure that projects are completed despite setbacks, thus maintaining business continuity.

What Does Builders Risk Insurance Coverage Cost?

Costs can vary based on your location and the specific type of work you perform. Here are some examples of builders risk quotes:

Warehouse RenovationNew Home ConstructionHome Addition
StateOKTXKS
Existing Structure Limit$0$0$0
New Construction Limit$1,575,000$830,000$550,000
Policy Term12-Months2-Years16-Months
Soft CostsYesYesYes
Annual Premium$3,838$7,486$6,432

Frequently Asked Questions

What Our Customers Are Saying

Buying insurance can be a daunting task because of the complexity of each policy. LandesBlosch has been a game changer for my business. They held my hand through all the different options that my businesses may or may not needs to make sure I'm not underinsured. This reduces my personal stress and my business liability.

Dalton P.

I have been with Guy Landes and the LandesBlosch agency for almost 20 years. Guy Landes and his staff have been there for me and my entire family through several claims as well as guiding us successfully to ensure our family’s ever changing and growing business. Whether you are looking for personal or commercial insurance, you cannot find a more devoted and competitively priced group than the LandesBlosch Group!

Mike S.

If integrity is an important element in your business dealings? LandesBlosch delivers. This company stands on timeless character strengths that have been the cornerstone of their business build. Exemplary customer service skills combined with astute knowledge in the industry equates to unparallel success for any individuals or businesses seeking solid counsel. I highly recommend LandesBlosch as your insurance partner, you will not be disappointed.

Cheri M.

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