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Blue Water Insurance

Builders Risk

Builder’s risk insurance is a specialized type of property insurance that helps protect buildings under construction.

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    Builders Risk Insurance

    Builders Risk Insurance protects the insurable interest that midsized and large construction companies have in materials, fixtures and/or equipment during the construction or renovation of a building or structure.

    What is a Builders Risk Insurance Policy?

    Builder’s Risk Insurance coverage is a special type of property coverage, which indemnifies buildings while they are under construction. With a variety of carriers specializing in providing such coverage, some of which also include personal liability, we will be able to provide a product that suits your needs.

    If you’re building a property, you need to protect your investment from the moment construction begins, to the time the build is complete. If your building itself or the associated materials and equipment used during the build are damaged, a builder’s risk policy pays out to cover the cost of damage or replacement. It can also provide protection from financial liability if a person is injured during the build or the construction leads to damage of another’s property.

    Coverage Options for Builders Risk

    We work as a consultant to determine your insurance needs and risks by evaluating your project with you. Options for a Florida builders risk policy include:

    • Policy time frames
    • New Construction, remodeling & rehabs
    • Coverage for framing, cleanup, debris
    • Financial costs due to delays
    • Project sites and trailers
    • And more….

    Questions? You’re covered.

    Builders risk insurance covers the property while it is still under construction or remodel, but who actually buys the builders risk insurance policy? The answer usually depends on the details of the construction project’s contract.

    To be properly covered coverage should be effective prior to when materials are delivered to the job site. Coverage typically ends upon the earlier of closing of the sales, occupancy, or the policy expiration date.

    Builders Risk Insurance only provides coverage for property damage. It does not provide coverage for liability, and it’s only available for owners. If, as a General Contractor, you need liability coverage, you can consider buying a General Liability insurance policy.