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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

Builder’s 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. The builder's 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 will 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:
riemer insurance
  • builders risk insuranceFire
  • builders risk insuranceTheft
  • builders risk insuranceHail
  • builders risk insuranceVandalism
  
  • builders risk insuranceWind (may be limited in coastal areas)
  • builders risk insuranceLightening
  • builders risk insuranceExplosion
  • builders risk insuranceVehicles/Aircraft
   
Common builders risk coverage extensions include:
  • builders risk insuranceProperty in transit
  • builders risk insuranceDebris removal
  • builders risk insuranceValuable papers
  
  • builders risk insuranceProperty in temporary storage
  • builders risk insuranceFire department service charge

 

You should know:

  • builders risk insuranceSub-contractors are responsible for insuring their own property.
  • builders risk insuranceNo coverage is provided for equipment or tools.
  • builders risk insuranceA builders risk policy does not provide any type of liability coverage.
  • builders risk insuranceCoverage typically ends automatically when the building is completed, occupied, sold or the policy term ends - whichever comes first.

For more information, please contact Riemer Insurance
Group at 1-800-742-1691 or email one of our experts at commercial.insurance@riemerinsurancegroup.com
Insurance is a relationship business. - Stephen L. Riemer, President
*Please note: This is a general summary of a generic builder’s 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.


Riemer Insurance Group, Inc. offers products through various insurance companies and is licensed to sell its products in Florida. The content on this site should not be considered a solicitation or an offer to sell products or services in any other state besides Florida, where Riemer Insurance Group, Inc. is properly registered/licensed. The information on this site is a courtesy of Riemer Insurance Group, Inc. and is intended for informational purposes only. © 2006-2007

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