Builders Risk Insurance

Builders risk insurance (also called course of construction insurance) protects a person's or organization's insurable interest in materials, fixtures and/or equipment to be installed during the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.

Builders risk insurance can cover a variety of projects, offering standard coverages and additional endorsements to tailor policies for any residential or commercial course of construction project.

Depending on the coverage selected at the time of policy issuance, the Builders Risk Plan insured by Zurich can protect policyholders' financial wellbeing should loss occur from exposures such as theft, fire, materials in transit, back-up of sewers, flood, earthquake and much more.

Individuals or entities, including contractors, business owners, homeowners, or financial institutions are often your primary builders risk clients. Depending on the terms of the construction contract, the contractor or project owner will be required to purchase builders risk coverage.

The Builders Risk Plan insured by Zurich allows for the policy to be purchased in the name of the owner or builder. Contractors and other parties of interest may also be protected under an additional named insured clause.

The cost of a builders risk insurance policy is generally dependent upon the cost of the project plus the following factors: property type, location, construction type, optional coverage selected, and additional fees and taxes.

A policy from the Builders Risk Plan insured by Zurich starts at $375 in most states. You can get a builders risk insurance quote when you apply online today.

Demand for a builders risk policy is often time sensitive. Most purchases occur prior to or on the date of construction when the contract is finalized, which means you’ll need to act promptly when your client requests coverage.

In cases where your client begins construction without securing a builders risk policy, you will need to provide the percentage of construction completed during the application process, in addition to the total completed value. Projects greater than 30% complete are eligible through our program but subject to additional underwriting review.