Builder’s Risk Insurance
Builder’s Risk Insurance
Builder’s risk insurance — also called course-of-construction coverage — protects a building and its materials while it’s being constructed or renovated. If fire, theft, wind, or vandalism damages the project before it’s finished, builder’s risk helps cover the loss so the work isn’t derailed. It fills a gap that neither a finished-building property policy nor general liability addresses. Covella places builder’s risk for contractors, developers, and owners across the tri-state.
Complete Builder’s Risk Coverage
What it covers
the structure under construction · materials, fixtures, and equipment on-site (and sometimes in transit or storage) · losses from fire, wind, theft, and vandalism · often soft costs like extended interest or lost rents (varies by form).
Who needs it
general contractors, developers, and property owners on new builds or major renovations — and it’s frequently required by lenders.
Cost factors
project value, construction type, duration, and location.
Frequently asked questions
We’ve answered the most common questions to make choosing and managing your insurance easier and stress-free.
Who buys the builder’s risk policy — owner or contractor?
Either can, depending on the contract; the key is that the policy is in place before work begins and names the right parties.
How long does coverage last?
Typically for the construction period; it ends when the project is complete and the permanent property policy takes over.
Ready to talk? Send your resume to info@covellains.com or call (513) 489-6422.