construction and renovation protection

Protect your home investment – even before any work has begun – with builders risk insurance

Whether it's a small remodel or a new construction, don’t let unexpected incidents get in the way of completing your project

What is builders risk insurance?

Builders risk insurance can be complex and easily misunderstood, as coverage and policies vary from one insurance company to the next. But in a nutshell, builders risk insurance is property protection for your construction project, from start to finish.

Whether you’re completing a home construction, renovation, or installation, a builders risk policy protects the project structure, as well as any materials, supplies and equipment used in the course of construction from various types of damage or loss. A builders risk policy can be purchased by the contractor, property owner, or even a lender, and may also cover the architect or engineer involved.

Once your project is complete, your builders risk insurance policy ends, and you’ll want to consider a homeowners insurance policy (if you don’t already have one) to continue protecting your investment.

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How a builders risk insurance claim can impact you

Unfortunately, the “unexpected” happens more frequently than we’d like, especially with home construction projects. Having the right insurance can help alleviate the incredible financial burden of a claim.

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Properties affected by hail damage each year

Of people spend less than $1,000 per year on builders risk insurance

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What is (and is not) covered by builders risk insurance?

Just like every construction project is different, no two personal builders risk policies are alike. Each policy has limitations, exclusions, and additional optional coverages that you’ll want to be aware of and have customized to fit your needs, before you break ground.

What is typically covered?

Building repair/replacement

Materials and supplies

Tools and equipment

Furniture and fixtures

Outdoor property

Debris removal

Property in transit or off-site

Theft

Damages from vandalism

Damages from fire

Damages from storms including lightning, hail, hurricanes, wind

Damages from earthquakes (optional)

Damages from flood (optional)

Soft costs (optional)

What is not typically covered?

Accidental damage (i.e. dropping something)

Damages to someone else’s property

Intentional property damage

Wear and tear

Claims of bodily injury

Got builders risk insurance questions? We’ve got answers.

Builders risk insurance may not be required for your project (unless you have a loan), but it is something you should consider. Let us help you decide whether this coverage is right before your project begins.

Do I need builders risk insurance?

What does a builders risk insurance policy cover?

I’ve already started construction. Is it too late to get a builders risk insurance policy?

How much does builders risk insurance cost?

How builders risk insurance protects your project

While your home insurance covers your existing home, as soon as you make renovations to it, or start a new construction, that coverage has gaps. Keep your project protected and investment secured with a customized builders risk insurance policy.

Protection from natural disasters

Fire, wind, snow, ice, hurricanes, tornadoes, and water - we’ve seen it all in Massachusetts. And it all can cause some serious damage. But the right builders risk insurance can protect you from whatever Mother Nature throws your way.

Protection before work begins

Materials and supplies have been delivered. Tools and equipment are onsite waiting for installation. The right builders risk insurance policy will reimburse you for damages even before work begins.

Coverage for only as long as you need

With builders risk insurance, your coverage begins before you break ground, and ends once your property is sold or occupied. Not a day longer. You never pay for more insurance than you need.

Compliance with your loan lender

Construction projects can be a significant investment. If you’ve got a lender backing your project, they’ll want to be sure you have coverage for their financial interest.

Simplifying builders risk insurance … one blog at a time

Find the answers to all your insurance questions through the helpful resources in our free online Learning Center.

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Keep your investment secured with builders risk insurance

Don’t let an unexpected claim keep you from getting your project completed. Simply fill out this form and a member of our personal insurance team will be in touch.