BUILDERS RISK INSURANCE

Builders risk insurance is property insurance for buildings under construction, renovation or repair. The coverage is applicable only during the period when actual construction is in progress. Before construction begins, there is no coverage. As soon as construction is completed, coverage ceases.

Builders risk insures against accidental losses, damage or destruction to the construction job site on an all-risk basis, including theft and vandalism. The building supplies and materials at the job site to be used in the construction are generally included in the coverage. Equipment and tools that may be used in the construction are not included in this coverage.