Start with the purpose of the coverage
Builder's Risk, also called Course of Construction insurance, is property coverage designed for buildings and eligible property during new construction or substantial renovation or remodeling. Subject to policy terms, it may cover materials, supplies, fixtures, and equipment intended to become part of the project at the site and, when provided by the policy, in temporary storage or transit. Builder's Risk does not replace General Liability, Workers' Compensation, Commercial Auto, or contractor liability coverage. Availability varies by insurer.
Accurate schedules and values
Connect this decision to the insured operation, credible loss scenarios, current information, policy wording, and requested protection.
Current operations and contracts
Connect this decision to the insured operation, credible loss scenarios, current information, policy wording, and requested protection.
Loss history and requested terms
Connect this decision to the insured operation, credible loss scenarios, current information, policy wording, and requested protection.
What the policy may help address
The building under construction or renovation
Confirm covered causes, insured parties, locations, limits, deductibles, conditions, and exclusions in the actual proposal and issued policy.
Eligible materials, supplies, fixtures, and equipment intended to become part of the project
Confirm covered causes, insured parties, locations, limits, deductibles, conditions, and exclusions in the actual proposal and issued policy.
Property at the project site and, when the policy provides it, property in temporary storage or transit
Confirm covered causes, insured parties, locations, limits, deductibles, conditions, and exclusions in the actual proposal and issued policy.
Details to examine for this decision
- Project value or completed value, construction type, project address, and the percentage already completed if work has begun
- Start date, expected completion date, contractor experience, and protection or security at the site
- Wind, hail, and other catastrophe exposure; flood coverage must be specifically evaluated and should not be assumed
- Optional or policy-specific considerations such as soft costs, delay in completion, ordinance or law, testing, equipment breakdown, and existing structures
Information to prepare
A complete submission helps distinguish the account and reduces avoidable follow-up. Prepare current records rather than relying on estimates from a prior policy period.
- Project address, scope, construction type, and project or completed value
- Start date, expected completion date, and percentage completed if work is underway
- Owner, developer, general contractor, contractor experience, and other parties with an insurable interest
- Site protection, security, wind and hail exposure, catastrophe details, and the specific need for flood or other extensions
Questions the review should answer
How does the program address project value or completed value, construction type, project address, and the percentage already completed if work has begun?
Document the answer in the proposal, applicable forms, endorsements, schedules, or written underwriting confirmation. Do not rely only on a certificate or marketing summary.
How does the program address start date, expected completion date, contractor experience, and protection or security at the site?
Document the answer in the proposal, applicable forms, endorsements, schedules, or written underwriting confirmation. Do not rely only on a certificate or marketing summary.
How does the program address wind, hail, and other catastrophe exposure; flood coverage must be specifically evaluated and should not be assumed?
Document the answer in the proposal, applicable forms, endorsements, schedules, or written underwriting confirmation. Do not rely only on a certificate or marketing summary.
How does the program address optional or policy-specific considerations such as soft costs, delay in completion, ordinance or law, testing, equipment breakdown, and existing structures?
Document the answer in the proposal, applicable forms, endorsements, schedules, or written underwriting confirmation. Do not rely only on a certificate or marketing summary.
Frequently asked questions
What should a business prepare for a Builder's Risk Insurance quote preparation checklist review?
Useful starting information includes project address, scope, construction type, and project or completed value, start date, expected completion date, and percentage completed if work is underway, owner, developer, general contractor, contractor experience, and other parties with an insurable interest, site protection, security, wind and hail exposure, catastrophe details, and the specific need for flood or other extensions. The specialist may request additional details based on the operation and available insurance markets.
Why should Builder's Risk Insurance be reviewed separately from other policies?
Builder's Risk, also called Course of Construction insurance, is property coverage designed for buildings and eligible property during new construction or substantial renovation or remodeling. Subject to policy terms, it may cover materials, supplies, fixtures, and equipment intended to become part of the project at the site and, when provided by the policy, in temporary storage or transit. Builder's Risk does not replace General Liability, Workers' Compensation, Commercial Auto, or contractor liability coverage. Availability varies by insurer. The policy should also be coordinated with related property, liability, vehicle, people, contract, and continuity exposures.
Coverage descriptions are general and do not amend a policy. Eligibility, availability, limits, deductibles, exclusions, definitions, and terms vary by risk and insurance market. Actual policy documents control.